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Pioneer Natural Resources Falls After Certain Stockholders Plan Share Offering

05/11/2021 09:13

01:01 PM EDT, 05/11/2021 (MT Newswires) -- Pioneer Natural Resources Company (PXD) shares fell 6.5% in Tuesday afternoon trading after the company disclosed Monday certain stockholders' plan to sell 6 million of Pioneer shares.

The company said about 64.13% of the shares are being sold by Double Eagle Energy Holdings III, which is majority owned by funds managed by affiliates of Apollo Global Management (APO) and the balance by Q-FPP (VII) Subsidiary, which is majority owned by funds managed by affiliates of Quantum Energy Partners.

Pioneer said it issued the shares on May 4 as part of the consideration for its purchase of DoublePoint Energy.

Price: 156.87, Change: -10.71, Percent Change: -6.39