Miss PXD's $128 Secondary But Think It's A Buy At $100?

Looking back to 137 days ago, Pioneer Natural Resources Co (NYSE: PXD) priced a 9,000,000 share secondary stock offering at $128.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Monday, the stock is now 14.2% above the offering price. It should be noted that investors at the secondary have collected $0.04/share in dividends since the time of their purchase, so t...