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Summary

  • 12 insiders sold Pioneer stock within one month.
  • The stock was not purchased by any insiders in the month of intensive selling.
  • 4 of these 12 insiders decreased their holdings by more than 10%.

Pioneer Natural Resources Company (NYSE:PXD) operates as an independent oil and gas exploration and production company in the United States.
(click to enlarge)

Insider selling during the last 30 days

Here is a table of Pioneer's insider activity during the last 30 days.

NameTitleTrade DateShares SoldOption Exercise & SaleRule 10b5-1Current OwnershipDecrease In Ownership
Timothy DoveCOOMay 29-June 2524,000YesNo282,864
shares + 55,238 options
6.6%
Andrew CatesDirectorJune 232,000NoNo19,946 shares9.1%
Mark BergEVPJune 6-204,000NoNo73,322 shares + 5,607
options
4.8%
Richard DealyCFOMay 30-June 1812,466NoNo188,619 shares + 4,213 options6.1%
Jim WatsonDirectorJune 181,000NoNo6,553
shares
13.2%
Edison BuchananDirectorJune 13600NoNo25,972
shares
2.3%
Frank RischDirectorMay 29-June 132,000NoNo12,695
shares
13.6%
Danny KellumEVPJune 9-1212,000NoNo42,834 shares21.9%
William HannesEVPJune 1111,246YesNo77,921 shares12.6%
Scott SheffieldCEOJune 920,000NoNo690,114 shares2.8%
Kenneth ThompsonDirectorJune 10500NoNo7,070
shares
6.6%
Charles RamseyDirectorJune 2619NoNo15,810 shares3.8%

There have been 90,431 shares sold by insiders during the last 30 days.

Insider selling by calendar month

Here is a table of Pioneer's insider activity by calendar month.

MonthInsider selling / sharesInsider buying / shares
June 201474,2180
May 201453,7620
April 201400
March 201489,3360
February 201400
January 201400
December 201300
November 20132,400500
October 201300
September 201388,4600
August 201300
July 201300
June 2013100,4380
May 201375,1160
April 201300
March 201393,6980
February 2013027
January 201300

There have been 577,428 shares sold and there have been 527 shares purchased by insiders since January 2013.

Financials

Pioneer reported the first-quarter financial results on May 6 with the following highlights:

Revenue$963 million
Net income$123 million
Cash$257 million
Debt$2.7 billion

The 12 insiders sold their shares after these results.

(click to enlarge)

(Source: Earnings presentation)

Outlook

Pioneer's second-quarter guidance is as follows:

Daily production173-178 MBOEPD
Production cost$13.50-$15.50 per BOE

(click to enlarge)

(Source: Earnings presentation)

Competition

Pioneer's competitors include Apache (NYSE:APA), EOG Resources (NYSE:EOG), and Devon Energy (NYSE:DVN). Here is a table comparing these companies.

CompanyPXDAPAEOGDVN
Market Cap:32.37B38.48B63.31B32.43B
Employees:4,3505,3422,8005,900
Qtrly Rev Growth (yoy):0.36-0.090.280.77
Revenue:3.76B15.86B15.39B12.34B
Gross Margin:0.660.810.610.58
EBITDA:1.93B11.29B7.93B8.13B
Operating Margin:-0.140.360.250.26
Net Income:-324.94M2.18B2.36B1.64B
EPS:-5.854.344.324.07
P/E:N/A22.9726.8119.54
PEG (5 yr expected):2.29471.672.250.96
P/S:8.682.434.102.60

Pioneer has the highest P/S ratio among these four companies.

Here is a table of these competitors' insider activities during the last 30 days.

CompanyInsider buying / sharesInsider selling / shares
APA017,619
EOG018,135
DVN03,500

Apache has also seen intensive insider selling during the last 30 days.

Conclusion

There have been 12 different insiders selling Pioneer and there have not been any insiders buying Pioneer during the last 30 days. Four of these 12 insiders decreased their holdings by more than 10%. Pioneer has an insider ownership of 1.09%.

Before going short Pioneer, I would like to get a bearish confirmation from the Point & Figure chart. The two main reasons for the proposed short entry are a relatively high P/S ratio, and the intensive insider-selling activity.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.

Source: Pioneer Natural Resources: 12 Different Insiders Have Sold Shares This Month