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Pioneer (PXD) Sets Ambitious Goal to Combat Climate Change

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Zacks Equity Research
·2 min read
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Pioneer Natural Resources Company PXD announced plans to cut methane and greenhouse gas emissions. This signifies that investors and shareholders want the energy industry to make concerted efforts to reduce emissions that will help combat global warming. 

The leading oil and gas exploration and production company has set up ambitious goals that by 2030, it will slash methane intensity by 40% and greenhouse gas intensity by 25%. The upstream firm has also decided to limit its flaring intensity to below 1% of produced natural gas. Included in the plan, Pioneer Natural’s routine gas flaring will get eradicated by 2030 or earlier.

Last month, the market saw Occidental Petroleum Corporation OXY as the first leading American oil company to set a target of reaching net-zero emission by 2040. Thus, it has become evident that U.S. oil majors are gradually joining European peers to combat climate change. But oil producers in the United States still primarily see shale plays as their future.

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 carries a Zacks Rank #4 (Sell).Meanwhile, a few better-ranked players in the energy space include DCP Midstream, LP DCP and HighPoint Resources Corporation HPR. Both the stocks sport a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

DCP Midstream has seen upward estimate revisions for 2020 bottom line in the past 30 days.

HighPoint is likely to see earnings growth of 167.5% in 2020.

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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
 
Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report
 
DCP Midstream Partners, LP (DCP) : Free Stock Analysis Report
 
HIGHPOINT RESOURCES CORP (HPR) : Free Stock Analysis Report
 
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