PXD - Pioneer Natural Resources Company

NYSE - NYSE Delayed Price. Currency in USD
142.03
+1.60 (+1.14%)
At close: 4:02PM EST
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Previous Close140.43
Open140.10
Bid0.00 x 1000
Ask141.31 x 800
Day's Range139.11 - 142.26
52 Week Range114.79 - 178.22
Volume1,266,261
Avg. Volume1,523,434
Market Cap23.527B
Beta (5Y Monthly)1.28
PE Ratio (TTM)32.79
EPS (TTM)4.33
Earnings DateFeb 18, 2020
Forward Dividend & Yield1.76 (1.25%)
Ex-Dividend DateDec 29, 2019
1y Target Est182.39
  • Peak Permian Is Approaching Faster Than You Think
    Bloomberg

    Peak Permian Is Approaching Faster Than You Think

    (Bloomberg Opinion) -- The heart of America’s oil renaissance is found in the Permian basin, which is showing signs of maturing fast. And for shale basins, that’s not a good thing. If the rich petroleum region wanes, U.S. oil independence will remain elusive and the OPEC cartel may finally see off its greatest threat.The Permian, spread across west Texas and southeast New Mexico, yields more than a third of all U.S. oil production and it has contributed about two-thirds of the past three years’ worth of growth. Its boom has allowed America to export more than 3 million barrels a day of crude on a regular basis since May — more than every OPEC country except Saudi Arabia and Iraq. But the U.S. still imports twice that volume. A slowdown in the Permian would see that gap widen again.Output from the region, where oil was first discovered by W.H. Abrams a century ago with a well that produced just 10 barrels a day, is hitting new heights. Production has continued to grow in recent months despite a drop in the number of rigs drilling in the basin, which fell by 17% last year, according to data from the Energy Information Administration, as the chart above shows. But that cannot last forever.The latest edition of the EIA’s Drilling Productivity Report, published on Tuesday, shows that the Permian rig count fell to 402 in December, down from 485 a year earlier. Partly offsetting that decline, operators are getting more new oil per rig. But the chart below shows that the biggest increases in efficiency coincided with the steepest declines in the rig count — suggesting the improvement came through a renewed focus on the most productive parts of the play, rather than some technical breakthrough. Those strong gains have not been sustained.The report also breaks out production from new wells — those in their first full month of operation — and legacy production from all of the rest. This is particularly important in the shale deposits because of the rapid drop in output once a well is brought into use. Production from new wells has to more than offset the declines from a growing number of older wells for overall output to grow.The EIA data allow us to generate production profiles under various assumptions about rig counts, new well production rates and legacy-well declines. The results are worrying for those depending on ever-growing Permian output.Here are the basic parameters I used to generate production profiles:Legacy-well production decline: The EIA shows production from legacy wells falling by 277,000 barrels a day in January. The figure increased at an average rate of 3,500 barrels each month over the previous year, and I have applied that going forward. So the projected decline in February is 280,500 barrels a day, in March it is 284,000, and so on. Rig count: I have used three different rig counts. One is flat at 400 rigs from January, the second increases the count by 5 rigs per month to reach 447 by September and is then flat at 450 rigs thereafter. The third sees the rig count continuing to fall by three per month until April, before stabilizing at 390. New production: This is either assumed to stay constant at 810 new barrels per rig, or — in the most optimistic case — to rise by five barrels per month. That’s broadly in line with the average increase of 6 barrels per rig per month seen in 2019.Combinations of those parameters give the four production profiles shown in the chart below.With the rig count flat at 400 units and the average new output per rig at 810 barrels a day — where we are now — Permian basin production will peak in just over a year’s time, in Feb. 2021. After that it will start to fall at an accelerating rate as the burden of legacy-well declines continues to grow. If the rig count falls by just 10 more units by this April, the peak will occur this year. Before anyone starts shouting that this is too gloomy, the outlook is perfectly compatible with the views of the companies such as EOG Resources Inc., Pioneer Natural Resources Co. and Diamondback Energy Inc., which see their output growing by 12% or more this year. Even in the most pessimistic case above, the year-on-year increase in production in 2020 is 12.7%.The dominant position of the Permian means that other shale basins will struggle to offset its decline. The peak may be delayed by the trove of drilled, but uncompleted wells — known as DUCs — which now stands at over 3,600 in the Permian. They can be brought into production without the need for rigs, but that stockpile is already being drawn down to support production growth.Even when the Permian does peak, the U.S. will remain a major oil producer and a significant exporter. But OPEC oil ministers will breathe a sigh of relief at the first sign that the shale gale may be starting to blow itself out.To contact the author of this story: Julian Lee at jlee1627@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Julian Lee is an oil strategist for Bloomberg. Previously he worked as a senior analyst at the Centre for Global Energy Studies.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Chevron, Talos Energy and Murphy Oil
    Zacks

    The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Chevron, Talos Energy and Murphy Oil

    The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Chevron, Talos Energy and Murphy Oil

  • 30 Massive Dividend Increases From the Past Year
    Kiplinger

    30 Massive Dividend Increases From the Past Year

    The S&P; 500's dividend stocks provided shareholders with an average payout boost of more than 8% in 2019. However, a number of outstanding companies announced far more substantial dividend increases - 20%, 30% or more. In a few cases, companies more than doubled their payouts overnight.Companies often authorize significant upgrades in their regular dividends to attract new investors or stand out from industry competitors. While one-time influxes of cash will often go toward buybacks or one-time special dividends, firms that believe they can maintain heightened levels of profitability will return some of that money through larger regular payouts.You'll notice that many of the past year's largest dividend increases came from the banking industry. That's in part because some large banks that were sitting on stockpiles of cash received permission from government regulators to distribute their excess capital to investors. Another major impetus for dividend growth was tax reform, which bumped up after-tax profits for many American companies, including banks.Here, we look at 30 companies that stood out over the past year because of their outsize dividend increases. Each dividend growth stock listed here improved its regular payout by at least 20% in 2019, though in numerous cases, the dividend improved by considerably more. Let's take a look. SEE ALSO: The Pros' Picks: 13 Top Dividend Stocks for 2020

  • 4 Best Oil-Energy Stocks for Value Investors in 2020
    Zacks

    4 Best Oil-Energy Stocks for Value Investors in 2020

    There has been a transition in the Energy sector with many institutional investors agreeing that the space will become lucrative again.

  • Oil Drillers Add Rigs in Permian Basin and Eagle Ford Shale
    Zacks

    Oil Drillers Add Rigs in Permian Basin and Eagle Ford Shale

    Domestic drillers may again remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.

  • Trade Deal Impacts the Energy Sector: LNG to Gain the Most?
    Zacks

    Trade Deal Impacts the Energy Sector: LNG to Gain the Most?

    Of the additional $200-billion purchase of U.S. goods over the next two years (keeping 2017 imports as the base level), $52.4 billion will likely come from the energy sector.

  • Oil & Gas US E&P Outlook: Bullish Signals Abound
    Zacks

    Oil & Gas US E&P Outlook: Bullish Signals Abound

    Oil & Gas US E&P; Outlook: Bullish Signals Abound

  • Pioneer Natural Resources (PXD) is an Incredible Growth Stock: 3 Reasons Why
    Zacks

    Pioneer Natural Resources (PXD) is an Incredible Growth Stock: 3 Reasons Why

    Pioneer Natural Resources (PXD) could produce exceptional returns because of its solid growth attributes.

  • Pioneer’s Barry Thomas: ‘Making a difference in people’s lives’ in the Permian
    American City Business Journals

    Pioneer’s Barry Thomas: ‘Making a difference in people’s lives’ in the Permian

    Barry Thomas' earliest memories as a boy were with his dad out in the oil patch. Now an associate GC at Pioneer Natural Resources, Thomas is one of the most respected energy lawyers in Texas.

  • The Zacks Analyst Blog Highlights: Callon Petroleum, Diamondback Energy, Pioneer Natural Resources and Concho Resources
    Zacks

    The Zacks Analyst Blog Highlights: Callon Petroleum, Diamondback Energy, Pioneer Natural Resources and Concho Resources

    The Zacks Analyst Blog Highlights: Callon Petroleum, Diamondback Energy, Pioneer Natural Resources and Concho Resources

  • US Oil Drillers Spend Conservatively: Rig Count Slides Again
    Zacks

    US Oil Drillers Spend Conservatively: Rig Count Slides Again

    Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on the drilling of new wells.

  • US Shale Drillers to Pump Up More Returns in 2020: 4 Gainers
    Zacks

    US Shale Drillers to Pump Up More Returns in 2020: 4 Gainers

    Given that shale drillers will probably generate handsome free cashflows in 2020, it would be ideal to keep an eye on the following Permian explorers that are poised to gain.

  • Despite Its High P/E Ratio, Is Pioneer Natural Resources Company (NYSE:PXD) Still Undervalued?
    Simply Wall St.

    Despite Its High P/E Ratio, Is Pioneer Natural Resources Company (NYSE:PXD) Still Undervalued?

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. To keep it practical...

  • Benzinga

    Cramer Recommends Selective Picking Of Oil Stocks

    Growing Middle East tensions in reaction to the U.S. military's targeted killing of Qasem Soleimani, Iran's top general, doesn't mean investors should rush to pick any oil stock. Jim Cramer said Friday ...

  • Oil Drillers Keep Removing Rigs From Permian & Cana Woodford
    Zacks

    Oil Drillers Keep Removing Rigs From Permian & Cana Woodford

    Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.

  • Drillers Remove Oil Rigs in Permian and Cana Woodford Basins
    Zacks

    Drillers Remove Oil Rigs in Permian and Cana Woodford Basins

    Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.

  • Four Stocks Are Blazing An Amazing Winning Streak
    Investor's Business Daily

    Four Stocks Are Blazing An Amazing Winning Streak

    Stocks are stringing together an impressive eight-day winning streak. But a mere handful of S&P; 500 stocks are actually up all of those days, too.

  • Pioneer Natural Resources Company (PXD) vs. Hedge Fund Favorites in 2019
    Insider Monkey

    Pioneer Natural Resources Company (PXD) vs. Hedge Fund Favorites in 2019

    It seems that the masses and most of the financial media hate hedge funds and what they do, but why is this hatred of hedge funds so prominent? At the end of the day, these asset management firms do not gamble the hard-earned money of the people who are on the edge of poverty. Truth […]

  • Drillers Add Oil Rigs in Permian & Eagle Ford Shale Play
    Zacks

    Drillers Add Oil Rigs in Permian & Eagle Ford Shale Play

    Since February 2018, drillers in the United States have added the highest number of rigs in a week.

  • S&P Rises for Fourth Straight Week
    Zacks

    S&P Rises for Fourth Straight Week

    S&P; Rises for Fourth Straight Week

  • More Upside Awaits Oil in 2020: Shale Drillers to Gain
    Zacks

    More Upside Awaits Oil in 2020: Shale Drillers to Gain

    The phase-one trade deal, likely to be signed by the first week of January, has improved the outlook for global energy demand.

  • Barrons.com

    8 Oil Stocks Goldman Sachs Says to Buy in 2020

    Production growth is likely to be much slower from the U.S. and other non-OPEC countries, and could go flat or decline slightly the following year. That could remove the fear of oversupply, and bring more stability to the market.

  • Business Wire

    Pioneer Natural Resources Announces Fourth Quarter 2019 Earnings News Release Date and Conference Call

    Pioneer Natural Resources Company ("Pioneer") (NYSE:PXD) today announced its fourth quarter 2019 earnings news release is scheduled to be issued after the close of trading on the New York Stock Exchange on Wednesday, February 19, 2020.

  • Drillers in US Plays Add Oil Rigs Despite Conservative Budget
    Zacks

    Drillers in US Plays Add Oil Rigs Despite Conservative Budget

    In Permian, drillers lower rigs in seven of eight weeks.

  • The Zacks Analyst Blog Highlights: Novartis, AbbVie, Sanofi, Pioneer Natural Resources and Aqua America
    Zacks

    The Zacks Analyst Blog Highlights: Novartis, AbbVie, Sanofi, Pioneer Natural Resources and Aqua America

    The Zacks Analyst Blog Highlights: Novartis, AbbVie, Sanofi, Pioneer Natural Resources and Aqua America