PXD - Pioneer Natural Resources Company

NYSE - Nasdaq Real Time Price. Currency in USD
126.90
+0.30 (+0.24%)
As of 3:46PM EDT. Market open.
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Previous Close126.60
Open128.00
Bid126.86 x 1000
Ask126.91 x 800
Day's Range125.94 - 129.14
52 Week Range114.79 - 189.78
Volume751,633
Avg. Volume1,627,684
Market Cap21.211B
Beta (3Y Monthly)1.30
PE Ratio (TTM)23.68
EPS (TTM)5.36
Earnings DateNov 4, 2019 - Nov 8, 2019
Forward Dividend & Yield1.76 (1.39%)
Ex-Dividend Date2019-09-26
1y Target Est186.00
Trade prices are not sourced from all markets
  • Business Wire

    Pioneer Natural Resources to Webcast Presentation at the Barclays CEO Energy-Power Conference

    Pioneer Natural Resources Company today announced that President and CEO Scott Sheffield will present at the Barclays CEO Energy-Power Conference on Wednesday, September 4, 2019, at 1:05 p.m.

  • Seth Klarman's Baupost Boosts Liberty, Reduces eBay
    GuruFocus.com

    Seth Klarman's Baupost Boosts Liberty, Reduces eBay

    Baupost had a busy 2nd quarter, according to its 13-F filing Continue reading...

  • Thomson Reuters StreetEvents

    Edited Transcript of PXD earnings conference call or presentation 7-Aug-19 2:00pm GMT

    Q2 2019 Pioneer Natural Resources Co Earnings Call

  • GuruFocus.com

    Seth Klarman Buys XPO Logistics, Exits 3 Positions in 2nd Quarter

    Baupost magnate also substantially increases Bristol-Myers Squibb Continue reading...

  • Oil & Gas Stock Roundup: Eni, TC Energy, Pioneer Natural Q2 Earnings
    Zacks

    Oil & Gas Stock Roundup: Eni, TC Energy, Pioneer Natural Q2 Earnings

    Eni (E) reported comprehensive earnings miss, TC Energy's (TRP) bottom line matched the Zacks Consensus Estimate, while Pioneer Natural Resources (PXD) outperformed our profit projection.

  • Oilprice.com

    Time Is Almost Up For U.S. Shale

    It’s been a brutal two weeks for the shale industry after some poor financial results and oil prices crashing, and now it seems that the sectors production growth is being questioned

  • Saudi ‘Whatever It Takes’ Runs into Oil Market's ‘Whatever’
    Bloomberg

    Saudi ‘Whatever It Takes’ Runs into Oil Market's ‘Whatever’

    (Bloomberg Opinion) -- Sometimes it can feel like your world is coming apart. In Saudi Arabia’s case, that is unfortunately somewhat true. Which is presumably why reports the country is considering all options to halt the slide in oil prices have bubbled to the surface over the past 24 hours.This isn’t the first time Saudi Arabia has deployed the whatever-it-takes weapon to beat back the bears. In May 2017, energy minister Khalid Al-Falih used that exact phrase when Brent crude had slipped below $50 a barrel. It sparked a brief rally, followed by a brief dip again, that ultimately segued into a sustained march toward $86 by the fall of 2018.It’s different this time.As bleak as things seemed to OPEC in May 2017, the organization actually had some favorable trends going its way. One of these was its own hesitancy to deliver on the production cuts agreed in late 2016. Apart from Saudi Arabia and the involuntary “discipline” of Venezuela and Angola, the rest of the group didn’t collectively get with the program until toward the end of 2017 (see this). In other words, there was plenty of room in May 2017 for many members just to do something, never mind whatever it took. Plus, U.S. sanctions against Iran were yet to kick in. Meanwhile, low oil prices were boosting global demand and suppressing non-OPEC supply, as U.S. shale operators were only just beginning to emerge from the shock of 2016. None of this holds true today. Saudi Arabia already bears a disproportionate share of the OPEC+ cuts and relies on just a handful of others (including Russia) to maintain credibility on this front. Iran’s output is down by 1.6 million barrels a day already. And the balance between global oil demand growth and non-OPEC supply has reversed completely:Signs of weakening economic growth are cropping up all over amid the escalating trade war between China and the U.S. This is the biggest obstacle to Saudi Arabia’s jawboning working this time. While Riyadh may be willing to do what it takes, both Washington and Beijing appear to be of a similar mind in their confrontation – and that is unambiguously bearish for oil.It’s worth remembering that Al-Falih only recently said something along similarly aggressive lines when he mused about wanting to slash oil inventories by more than 200 million barrels. Yet the market remains unshocked and not the slightest bit awed (even with the shadow of actual conflict in Saudi Arabia’s neighborhood lurking in the background). Cutting supply further into a weakening market could leave Saudi Arabia with lower market share and not necessarily much extra revenue to show for it. This latest intervention appeared to bump Brent crude up from $56 a barrel to $58 overnight, but as of writing this Thursday morning it is back below $57.On the same day Saudi Arabia’s apparent resolve made its way to the ears of the press, shale bellwether Pioneer Natural Resources Co. was extolling the virtues of low leverage and higher payouts to shareholders on an earnings call. Annualize the company’s latest quarterly buybacks and throw in its dividend increase, and Pioneer now yields 5.3% – more than Exxon Mobil Corp. Quite a remarkable change of approach for a fracker that was aiming for the equivalent of a shale moonshot in production growth only two years ago.In other words, lower prices are having an impact in terms of moderating the shale boom. Letting them continue to do so would ultimately do much to rebalance supply with demand. The problem for Saudi Arabia is that “ultimately” is a ways away and, much as an outbreak of bankruptcy across Texas would help, the country’s own dependence on oil presents it with a more existential challenge. Hence, using language any central banker would recognize these days, Riyadh is trying to hold back a literal tide. And like the bankers, it may find a trade war exceeds its capabilities.To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Pioneer Natural Resources (PXD) Q2 2019 Earnings Call Transcript
    Motley Fool

    Pioneer Natural Resources (PXD) Q2 2019 Earnings Call Transcript

    PXD earnings call for the period ending June 30, 2019.

  • Reuters

    UPDATE 1-Top U.S. shale producer offers bleak view of U.S. output growth

    Pioneer Natural Resources, one of the largest U.S. independent oil producers, on Wednesday warned that the U.S. shale boom could end in all but one region by 2025, as producers exhaust the richest resource areas and drilling slows due to weak prices. Pioneer Chief Executive Scott Sheffield said just one area of the Permian Basin, the largest U.S. shale field, would continue to expand output past 2025 as oil prices remain low and many producers pull back drilling.

  • Pioneer Natural Resources Continued Outperforming in Q2
    Motley Fool

    Pioneer Natural Resources Continued Outperforming in Q2

    The oil and gas company’s focus on the Permian Basin keeps paying dividends.

  • Diamondback's (FANG) Q2 Earnings Miss on Weak Gas Prices
    Zacks

    Diamondback's (FANG) Q2 Earnings Miss on Weak Gas Prices

    Diamondback (FANG) now forecasts full-year output in the range of 277-284 MBOE/d (58-70% oil) versus prior guidance of 272-287 MBOE/d.

  • Pioneer Natural (PXD) Q2 Earnings Beat on Permian Volumes
    Zacks

    Pioneer Natural (PXD) Q2 Earnings Beat on Permian Volumes

    Pioneer Natural (PXD) continues to expect year-over-year growth in Permian production volumes through 2019.

  • Pioneer Natural Resources (PXD) Q2 Earnings Beat Estimates
    Zacks

    Pioneer Natural Resources (PXD) Q2 Earnings Beat Estimates

    Pioneer Natural Resources (PXD) delivered earnings and revenue surprises of 6.91% and -19.14%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Reuters

    UPDATE 1-Higher output powers Pioneer Natural Resources 40% profit jump

    Pioneer Natural Resources Co reported a 40% jump in quarterly adjusted profit on Tuesday, as the Permian pure-play oil producer's higher output helped it offset the impact of lower crude prices. The company is among several others that have turned to the prolific Permian basin of West Texas and New Mexico, which has been at the heart of the shale revolution in the United States. Oil prices have been under pressure from fears of slowing global demand and lack of pipeline capacity in the United States despite OPEC members and Russia cutting production.

  • Business Wire

    Pioneer Natural Resources Company Reports Second Quarter 2019 Financial and Operating Results

    Pioneer Natural Resources Company today reported financial and operating results for the quarter ended June 30, 2019. Pioneer reported a second quarter net loss attributable to common stockholders of $169 million, or $1.01 per diluted share.

  • Business Wire

    Pioneer Natural Resources Company Increases Dividend on Common Shares

    Pioneer Natural Resources Company (PXD) (“Pioneer” or “the Company”) today announced that its Board of Directors approved an increase in the Company’s cash dividend to a quarterly amount of $0.44 per common share (equivalent to $1.76 per share on an annualized basis as compared to $0.64 per share previously). Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. The payment of dividends in the future is at the discretion of the Company's Board of Directors, and, if declared, the Board of Directors may change the dividend amount based on the Company's liquidity and capital resources at that time.

  • The Zacks Analyst Blog Highlights: DIS, CBS, KHC, TSN, DVN, PXD, ISRG, SUHJY and HTHIY
    Zacks

    The Zacks Analyst Blog Highlights: DIS, CBS, KHC, TSN, DVN, PXD, ISRG, SUHJY and HTHIY

    The Zacks Analyst Blog Highlights: DIS, CBS, KHC, TSN, DVN, PXD, ISRG, SUHJY and HTHIY

  • Bad Week for Energy Stocks? Wait Till Next Year
    Bloomberg

    Bad Week for Energy Stocks? Wait Till Next Year

    (Bloomberg Opinion) -- One word to describe this week in energy stocks is “painful.” Another is prologue.Energy stocks were not particularly popular coming into this week anyway. To one degree or another, they were losing the confidence of investors that they will manage their capital responsibly and profitably.Now their deserved reputation for squeezing ever more oil and gas out of shale has also taken a big knock. Concho Resources Inc. plunged 22% on Thursday, to its lowest level since the panic of early 2016, after it cut guidance and revealed weak results from an experimental project of drilling wells much closer together than usual. Other Permian producers, such as Diamondback Energy Inc., also took a hit on fears this reflects a shale-productivity issue, rather than just a Concho issue. It’s sobering to think that Concho, valued at more than $23 billion in the spring of 2018 and having since absorbed the $7.6 billion purchase of RSP Permian Inc., now sports a market cap of less than $16 billion.Meanwhile, the industry also has a problem with a man who is nominally its champion: President Donald Trump. His offhand tweet-threat of more tariffs on Chinese goods on Thursday afternoon took what was already a flaming dumpster fire, hitched it to a truck and took it straight over a precipice (the Federal Reserve’s quarter-point rate cut fading quickly in the rear-view).Trust, trip-ups, Trump. They seem like separate problems for the sector, but they actually add up to the same problem: cost of capital.Equity and bond issuance has faltered across the energy sector. Services giant Schlumberger Ltd., which has talked consistently of a recovery for several years, just changed its CEO, and its stock languishes around levels plumbed during the financial crisis. The pipeline sector, meanwhile, is undergoing a painful transformation away from the once-dominant (and so hot) master limited partnership structure. Missed expectations there are punished swiftly, while good behavior is rewarded with a stable, rather than surging, stock price.Concho’s problems with its “Dominator” project affected only a small minority of the wells it has drilled so far this year. But investor tolerance for wasted capital – as well as sharp revisions to guidance given only a few months ago – has evaporated. When Pioneer Natural Resources Co. surprised in mid-2017 with a snafu of its own, its stock was trading at parity with the market and a one-third premium to the sector in terms of Ebitda multiple. It never recovered that poise. Today, it trades below both.Many companies in an industry predicated on growth are struggling to make the pivot to prioritizing return on capital and shareholder payouts. It has traditionally been a sector that took in capital rather than spat it out. This is a particular problem for smaller and mid-cap companies, which tend to carry higher unit costs and struggle to attract attention and investors (though not, of late, activists). And a new report from Rystad Energy, a research and analytics firm, suggests smaller is worse when it comes to productivity too(1):The basic equation here – rising cost of capital and flat-but-volatile oil prices – demands radical change. There’s really no reason why dozens and dozens of companies should be cheek-by-jowl in the Permian basin, other than a steady flow of external capital that has dried up.If, as seems likely, 2020 hosts a confluence of weaker economic growth – with added Twitter trade-war frisson – and high non-OPEC production growth, this week’s wash-out will have been a mere prologue to what’s coming. The cure is consolidation, which would cut costs and rein in the barrels pushing into an already oversupplied market. However, it appears we still aren’t quite there yet.One obvious potential acquirer, ConocoPhillips, was asked on this week’s earnings call whether falling E&P valuations had piqued its interest. In response, the COO said:We still believe that there is a mismatch between what people expect for their assets and what we compete as a use of capital for our capital, and that may change over time.Translation: Stuff isn’t cheap enough yet.One obstacle to deals is, paradoxically, something that also lies behind the sector’s chronic de-rating: misaligned incentives for management vis-a-vis shareholders. In a new report, Evercore ISI analyst Doug Terreson calculates that, for a sample of nine large E&P companies, the average value of the pool of stock and option awards held by their CEOs at the end of 2016 was $26 million. By the end of 2018, that had risen by $21 million – of which just $1 million reflected higher share prices; the rest was new awards. The total return of the E&P sector in that time was negative 35%.As long as the corner office enjoys a more positive outcome than shareholders do, it suppresses any willingness to negotiate a deal that could change the occupant of that corner office. As this week demonstrates, though, pressure for change is building inexorably. The cost of capital is getting just too damn high.(1) In the accompanying chart, 'Majors' refers to BP, Chevron, Exxon Mobil, Occidental Petroleum and Royal Dutch Shell. The 'Top-10' public companies are Anadarko Petroleum, Apache, Cimarex Energy, Concho Resources, Devon Energy, Diamondback Energy, Encana, EOG Resources, Parsley Energy, and Pioneer Natural Resources. These are the top 10 operators bynumber of horizontal unconventional well-completions in the Permian shale basin, according to Rystad Energy's figures.To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Factors to Consider Ahead of Diamondback (FANG) Q2 Earnings
    Zacks

    Factors to Consider Ahead of Diamondback (FANG) Q2 Earnings

    While production growth is likely to buoy second-quarter results of Diamondback (FANG), weaker y/y commodity prices may play spoilsports.

  • Pioneer Natural (PXD) to Post Q2 Earnings: What's in Store?
    Zacks

    Pioneer Natural (PXD) to Post Q2 Earnings: What's in Store?

    Since majority of Pioneer Natural's (PXD) production comprises oil, the expected improvement in oil equivalent production is likely to prove beneficial.

  • Pioneer Natural Resources (PXD) Earnings Expected to Grow: Should You Buy?
    Zacks

    Pioneer Natural Resources (PXD) Earnings Expected to Grow: Should You Buy?

    Pioneer Natural Resources (PXD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Reuters

    Texas shale pioneers struggle to appease investors, compete with majors

    Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Today, Diamondback is the 7th largest producer in the top U.S. oil region, according to researcher Wood Mackenzie. The firm promised to reward investors by buying back up to $2 billion in shares and delivering $750 million in free cash flow next year if U.S. oil prices remain at about $55 per barrel.

  • Texas shale pioneers struggle to appease investors
    Reuters

    Texas shale pioneers struggle to appease investors

    Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Today, Diamondback is the 7th largest producer in the top U.S. oil region, according to researcher Wood Mackenzie. The firm promised to reward investors by buying back up to $2 billion in shares and delivering $750 million in free cash flow next year if U.S. oil prices remain at about $55 per barrel.