Viking Global Boosts Pioneer Natural Resources Position ~ market folly

Thursday, October 30, 2014

Viking Global Boosts Pioneer Natural Resources Position

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC regarding its position in Pioneer Natural Resources (PXD).  Per the filing, Viking has disclosed they now own 4.7% of the company with over 6.73 million shares.

This marks an increase of over 2.66 million shares in their position size since the end of the second quarter.  The filing was made due to activity on October 14th.  It looks like Viking took advantage of the big recent sell-off in shares.

You can view other recent portfolio activity from Viking Global here.

Per Google Finance, Pioneer Natural Resources is "an independent oil and gas exploration and production company with operations in the United States and South Africa. Pioneer is a holding company whose assets consist of direct and indirect ownership interests in, and whose business is conducted substantially through, its subsidiaries. The Company sells homogenous oil, natural gas liquid (NGL) and gas units. The Company provides administrative, financial, legal and management support to United States and South Africa subsidiaries that explore for, develop and produce proved reserves."

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