© Reuters.
On Wednesday, Pioneer Natural Resources Co.’s (NYSE: NYSE:) shares continued their four-day rally, rising by 1.35% to $255.23. This increase occurred amidst a broader market downturn, with the and falling by 1.34% and 0.98% respectively.
Despite this positive momentum, PXD’s share price remains $19.47 below its October peak. The company’s trading volume reached 4.3 million, surpassing its 50-day average.
In the same industry context, competitors EOG Resources Inc (NYSE:)., Devon Energy Corp (NYSE:)., and Occidental Petroleum Corp (NYSE:). also saw their shares rise on Wednesday. EOG Resources Inc.’s shares increased by 1.09%, Devon Energy Corp.’s shares rose by 0.30%, and Occidental Petroleum Corp.’s shares climbed by 1.48%.
These gains resulted in a mixed performance for PXD in comparison to its competitors, despite the broader market downturn.
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