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Pioneer Natural (PXD) Rewards Investors With Dividend Hike

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Zacks Equity Research
·2 min read
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Pioneer Natural Resources Company PXD announced approval from its board of directors to increase quarterly cash dividend payout.

The new dividend of 56 cents per share, representing an annualized dividend of $2.24 per share, reflects an increment of 1.8% from the prior payout of 55 cents. The company added that the raised dividend will likely be paid on Apr 14, to stockholders of record at the close of business on Mar 31.

It is to be noted that in the third quarter, the company delivered free cashflow of $131 million and the metric will likely improve since the business scenario is gradually getting better with improving oil prices. Thus, the upstream energy company, with a strong presence in the Permian – the most prolific basin in the United States – will likely continue to reward investors with dividend payments.

Pioneer Natural Resources Company Price

Pioneer Natural Resources Company Price
Pioneer Natural Resources Company Price

Pioneer Natural Resources Company price | Pioneer Natural Resources Company Quote

Headquartered in Irving, TX, Pioneer Natural currently sports a Zacks Rank #1 (Strong Buy). Other prospective players in the energy space include Matador Resources Company MTDR, DCP Midstream, LP DCP and Diamondback Energy, Inc. FANG. While Diamondback carries a Zacks Rank #2 (Buy), Matador and DCP Midstream sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Matador is likely to see earnings growth of 201.3% in 2021.

DCP Midstream has seen upward estimate revisions for 2021 earnings in the past 30 days.

Diamondback is likely to see earnings growth of 55% in 2021.

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