|Bid||0.00 x 1100|
|Ask||0.00 x 1300|
|Day's Range||183.69 - 186.43|
|52 Week Range||125.46 - 213.40|
|PE Ratio (TTM)||38.28|
|Earnings Date||Aug 7, 2018|
|Forward Dividend & Yield||0.32 (0.16%)|
|1y Target Est||241.43|
The global oil market needs more barrels to meet robust demand against a backdrop of supply headwinds, analysts say. Now that OPEC members have reached an agreement to lift oil output, albeit modestly, the overhang is gone and it may be time to consider buying oil and gas stocks. The first is Irving, Texas-based oil and gas explorer and producer Pioneer Natural Resources, which has operations in West Texas' and New Mexico's Permian Basin, South Texas' Eagle Ford Shale and the Texas Panhandle.
Oil prices spiked on Friday as news of OPEC’s agreement to moderately increase production gave bulls confidence that the oil market will remain tight over the coming year – calming fears of a supply boom
OPEC will have to consider the supply shortage from Iran, Venezuela, Libya and U.S. bottlenecks as well as the possible effects of a production increase before making a decision today.
Having looked at the percentage gainers, let’s look now at the top percentage losses from the oil and gas production—or upstream—sector from June 18–20. To compile the list, we only used oil and gas producers with market capitalizations greater than $100 million and an average trading volume greater than 100,000 shares last week.
Losses were broad based as eight out of nine sectors finished the trading session in red. WallStEquities.com has initiated research reports on the following Independent Oil & Gas stocks: Pioneer Natural Resources Co. (NYSE: PXD), Resolute Energy Corp. (NYSE: REN), SM Energy Co. (NYSE: SM), and VAALCO Energy Inc. (NYSE: EGY).
Pioneer Natural Resources chief Scott Sheffield said that the U.S. is on track to become the world’s top oil producer as early as this fall
Scott Sheffield, chairman at Pioneer Natural Resources, discusses how oil could rise to $100 per barrel, pipeline constraints for U.S. shale oil, and what he expects for an output increase from this week's ...
Soaring production in U.S. shale fields has driven output to a record 10.47 million barrels per day (bpd) this year and any cutbacks would hurt companies recovering from 2014's crude-price drop. Oil in Midland, Texas now sells for about $6 a barrel less than the U.S. benchmark (CLc1), compared with $1.50 less in January. It was $13 under the U.S. benchmark in May.
Oil ministers from OPEC and its allies have arrived in Vienna for what promises to be one of the cartel’s most contentious meetings in years as Iran opposes proposals to boost production. If OPEC and its allies don’t increase production, oil prices could rise above $100 a barrel, said Pioneer Natural Resources Co. Chairman Scott Sheffield.
ExxonMobil (XOM) is set to collaborate on a pipeline to ease the Permian glut, Chevron (CVX) starts production at second Wheatstone LNG train and Transocean (RIG) will retire four rigs.
In this article, we’ll discuss the YTD (year-to-date) stock performances of major Permian exploration and production players.
The Permian Basin Is Still a Star, but Can Midstream Keep Up? In the latest US rig count report released by Baker Hughes (BHGE), the number of active US rigs drilling for oil grew by one to 863 in the week that ended on June 15 compared to the previous week. The report also noted that as of June 15, the number of rigs in the Permian Basin was 476.
The Permian Basin Is Still a Star, but Can Midstream Keep Up? According to the EIA (U.S. Energy Information Administration), US tight oil production has increased in part due to the increasing productivity of new wells. Growing initial production rates have helped tight oil production to increase despite slowdowns in drilling activity when oil prices crashed in 2014.
Harold Hamm, founder and chief executive officer of Continental Resources Inc, has canceled a scheduled appearance at an OPEC event this week in Vienna, a company spokeswoman said. Hamm is the third of five U.S. shale executives to withdraw from a scheduled speaking slot at the OPEC meeting in Vienna.
Hedge funds increased their net bullish positions in US crude oil futures and options 0.5% to 315,063 on June 5–12. The positions increased by 119,765 contracts or 61% from a year ago. The US Commodity Futures Trading Commission released the data on June 15.
Investors have shunned producers that do business in the Permian Basin in Texas and New Mexico as a crude-oil bottleneck threatens to leave barrels of Texas tea stranded. Occidental Petroleum and Pioneer Natural Resources have lagged behind the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund (XOP) by a large margin, because of Permian pipeline angst.
Pioneer Natural (PXD) believes that operating in the low-cost and prospective drilling locations in the Permian Basin will help generate high cashflow for shareholders.
Only a few years ago, shale CEOs and the Organization of the Petroleum Exporting Countries were in open conflict. "We're getting to a point where a continued rise in the oil price is going to cause major problems for the global economy," said Amy Meyers Jaffe, director of the program on energy security and climate change at the Council on Foreign Relations.
Pioneer Natural Resources Company (PXD) (“Pioneer” or “the Company”) today announced that it has signed a purchase and sale agreement with Evergreen Natural Resources LLC to sell all of its assets in the Raton Basin in southeastern Colorado for $79 million, subject to normal closing adjustments. Timothy L. Dove, President and CEO, stated, “I want to personally thank all of our Raton employees for their strong efforts, dedication and the value they have created for our shareholders. The assets being sold represent all of Pioneer’s interests in the field, including all of its producing gas wells and the associated infrastructure.
Now let’s look at Occidental Petroleum’s (OXY) cash flow from operations in Q1 2018. OXY was the fourth-highest ranking upstream company in terms of operating cash flow in Q1 2018.
Having looked at EOG Resources’ (EOG) Q1 2018 operating cash flow, let’s look at its free cash flow trends. Free cash flow can be determined by deducting capex from operating cash flow.
Pioneer Natural Resources Company today announced that President and Chief Executive Officer, Tim Dove, will present at the J.P. Morgan Energy Conference on Tuesday, June 19, 2018, at 8:40 a.m.
Jun.21 -- Scott Sheffield, chairman at Pioneer Natural Resources, discusses how oil could rise to $100 per barrel, pipeline constraints for U.S. shale oil, and what he expects for an output increase from this week's OPEC meeting in Vienna. He speaks with Bloomberg's Alix Steel on "Bloomberg Daybreak: Americas."