Pioneer Natural Resources (PXD) Stock Price, News & Analysis

Company Overview

Pioneer Natural Resources Co. is an American hydrocarbon exploration and production company headquartered in Irving, Texas. As of December 2022, the company is ranked 248th on the Fortune 500 list, up from 428th in 2021. Pioneer Natural Resources Co. is the largest acreage holder in the Spraberry Trend of the Permian Basin. 

Pioneer Natural Resources formed in 1997 following the merger of MESA Inc. and Parker & Parsley Petroleum Company, owned by T. Boone Pickens. This merger set the tone for Pioneer Natural Resources’ growth over the next two decades, as the company made multiple acquisitions, divestitures and discoveries of oil and gas reserves. 

In 2002, Pioneer discovered its first oil discoveries on the Alaska North Slope, followed by the first independent production in 2008. In 2004, Pioneer acquired Evergreen Resources in a $2.1 billion transaction. The company also formed a joint venture with Reliance Industries in 2006, purchasing the assets of the Eagle Ford Group for $1.15 billion. In 2015, that joint venture went to Enterprise Products Partners for $2.15 billion. 

In April 2012, Pioneer Natural Resources purchased Carmeuse Industrial Sands, a silica sand manufacturer, for $297 million, followed by the sale of a 40% interest in approximately 207,000 net acres leased in horizontal Wolfcamp Shale to Sinochem Petroleum USA LLC for $1.7 billion in May 2013. The company sold non-producing assets in the Hugoton Basin to Linn Energy for $340 million in 2014. 

In 2016, Pioneer Natural Resources acquired 28,000 acres in the Midland Basin for $435 million. Then, 2,000 acres sold in Martin County, Texas, for $266 million in March 2017. In April 2021, the company acquired DoublePoint Energy for approximately $6.4 billion. In January 2021, the company continued acquisitions by purchasing Parsley Energy. 

Pioneer Natural Resources is a significant player in hydrocarbon exploration and production. The company holds substantial reserves of natural resources to help it compensate for lean production times. Pioneer Natural Resources is the largest acreage holder of land in the Permian Basin, providing plenty of room for the company to grow. The company has engaged in several significant acquisitions and divestitures over the years, including the acquisition of Evergreen Resources in 2004 and the sale of non-producing assets in the Hugoton Basin to Linn Energy in 2014. Pioneer Natural Resources is well-positioned for continued growth and success in the future.

Written by Jeffrey Neal Johnson

Key Stats

• Today's Range: $269.62 to $269.62
• 50-Day Range: $262.50 to $275.52
• 52-Week Range: $196.74 to $278.83
• Volume: N/A
• Average Volume: 2.08 million shs
• Market Capitalization: $63.00 billion
• P/E Ratio: 13.32
• Dividend Yield: 1.85%
• Price Target: $276.00
• Consensus Rating: Reduce

Pioneer Natural Resources Stock Analysis - MarketRank™

Pioneer Natural Resources scored higher than 17% of companies evaluated by MarketBeat, and ranked 243rd out of 254 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 0.9 / 5
• Analyst Rating: Reduce

Consensus Rating

Pioneer Natural Resources has received a consensus rating of Reduce. The company's average rating score is 1.88, and is based on no buy ratings, 7 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Pioneer Natural Resources has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 6.89%

Earnings Growth

Earnings for Pioneer Natural Resources are expected to grow by 6.89% in the coming year, from $22.07 to $23.59 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Pioneer Natural Resources is 13.32, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 129.41.

Price to Earnings Ratio vs. Sector

The P/E ratio of Pioneer Natural Resources is 13.32, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 16.43.

Price to Book Value per Share Ratio

Pioneer Natural Resources has a P/B Ratio of 2.71. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: N/A
• Short Interest Level: N/A

Short Interest

There is no current short interest data available for PXD.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Pioneer Natural Resources pays a meaningful dividend of 1.85%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Pioneer Natural Resources does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Pioneer Natural Resources is 24.70%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Pioneer Natural Resources will have a dividend payout ratio of 21.20% next year. This indicates that Pioneer Natural Resources will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 0.0 / 5
• Environmental Score: -7.14

Short Interest

There is no current short interest data available for PXD.

News and Social Media

• Score: 0.6 / 5
• News Sentiment: N/A

Search Interest

5 people have searched for PXD on MarketBeat in the last 30 days. This is an increase of 67% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Pioneer Natural Resources insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.55% of the stock of Pioneer Natural Resources is held by insiders.

Percentage Held by Institutions

80.57% of the stock of Pioneer Natural Resources is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PXD Stock Analysis - Frequently Asked Questions

How were Pioneer Natural Resources' earnings last quarter?

Pioneer Natural Resources (NYSE:PXD) posted its quarterly earnings data on Thursday, February, 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by $0.13. The business's revenue was up 2.1% compared to the same quarter last year.

Does Pioneer Natural Resources have any subsidiaries?

Pioneer Natural Resources subsidiaries include these companies: Parsley Energy, DMLP CO., Industrial Sands Holding Company, LF Holding Company LDC, Mesa Environmental Ventures Co., Parker & Parsley Argentina Inc., Petroleum South Cape (Pty) Ltd., and more.

Who are Pioneer Natural Resources' major shareholders?

Pioneer Natural Resources' top institutional shareholders include Gilliland Jeter Wealth Management LLC. Insiders that own company stock include Scott D Sheffield, Jerome D Hall Jr, Mark Stephen Berg, Mark H Kleinman, J Kenneth Thompson, Phillip A Gobe, Christopher L Washburn, Tyson L Taylor, Maria S Dreyfus, Margaret Montemayor, Neal H Shah, Frank A Risch, Matthew Gallagher, Edison C Buchanan, Chris J Cheatwood and Larry R Grillot.
View institutional ownership trends.

What other stocks do shareholders of Pioneer Natural Resources own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Pioneer Natural Resources investors own include Chevron (CVX), Salesforce (CRM), Bristol-Myers Squibb (BMY), Comcast (CMCSA), AbbVie (ABBV), Coca-Cola (KO) and QUALCOMM (QCOM).

Company Calendar

• Last Earnings: 2/22/2024
• Today: 10/24/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Oils/Energy
• Industry: Crude petroleum & natural gas
• Sub-Industry: Oil & Gas Exploration & Production
• Current Symbol: NYSE:PXD
• CUSIP: 72378710
• CIK: 1038357
• Web: www.pxd.com
• Phone: (972) 444-9001
• Fax: 972-402-7023
• Employees: 2,213
• Year Founded: 1997

Price Target and Rating

• Average Stock Price Target: $276.00
• High Stock Price Target: $290.00
• Low Stock Price Target: $250.00
• Potential Upside/Downside: +2.4%
• Consensus Rating: Reduce
• Rating Score (0-4): 1.89
• Research Coverage: 8 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $20.24
• Trailing P/E Ratio: 13.32
• Forward P/E Ratio: 12.22
• P/E Growth: N/A
• Net Income: $4.89 billion
• Net Margins: 24.28%
• Pretax Margin: 31.04%
• Return on Equity: 21.21%
• Return on Assets: 13.29%

Debt

• Debt-to-Equity Ratio: 0.20
• Current Ratio: 0.90
• Quick Ratio: 0.76

Sales & Book Value

• Annual Sales: $19.36 billion
• Price / Sales: 3.25
• Cash Flow: $34.70 per share
• Price / Cash Flow: 7.77
• Book Value: $99.32 per share
• Price / Book: 2.71

Miscellaneous

• Outstanding Shares: 233,680,000
• Free Float: 232,390,000
• Market Cap: $63.00 billion
• Optionable: Optionable
• Beta: 1.28