Why Pioneer Natural Resources Tumbled More Than 10% in July

Shares of Pioneer Natural Resources (NYSE: PXD) declined by 10.6% in July, according to data provided by S&P Global Market Intelligence. Weighing on the oil stock were lower oil prices and its oil hedging program.

However, despite that decline, shares of Pioneer Natural Resources had surged 27.6% year to date through the end of July. They renewed their rally in August after the oil producer reported its second-quarter results.

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Source Fool.com