Viking Global Increases Pioneer Natural Resources Position ~ market folly

Tuesday, November 3, 2015

Viking Global Increases 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 now owns 6% of PXD with over 8.96 million shares

This is up from the 6.39 million shares Viking owned at the end of the second quarter.  The filing was made due to activity on October 20th.

On the other side of this trade of course has been David Einhorn who has been short PXD.

We've highlighted 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. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties. The Company's properties include Spraberry/Wolfcamp oil field located in West Texas; the liquid-rich Eagle Ford Shale field located in South Texas; Raton gas field located in southern Colorado; the West Panhandle gas and liquids field located in the Texas Panhandle, and the Edwards gas field located in South Texas. The Company's operations include well stimulation and hydraulic fracturing. The Company's proved reserves include approximately 89 million Bbls (MMBbl) of oil, 42 MMBbls of NGLs and 317 billion cubic feet (Bcf) of gas. The Company owns interests in six gas processing plants and eight treating facilities.."

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