When PXD announces its freeze-damage EPS guidance revision - (as they promised to do in their PR on Nov 27th), what will be the effect on PXD share price?
Indeed it's true that part of the downward EPS guidance revision has been discounted in PXD shares, but somehow when the actual freeze damage assessment is put into real $$$, the stock will retreat with some knee-jerk selling.
I'm guessing the following:
-5% downward revision - stock sells off slightly
-10% downward revision - stock sell off 3-5%
-15% downward revision - stock sells off 5-8%
Today after the close during slow holiday trading would be an ideal time for PXD to trot out the Q4 revenue revision to account for the major freeze losses. I wouldn't want to be long going into the close...