Skip to Content

Pioneer Natural Resources Co PXD

Morningstar Rating
$275.23 +1.72 (0.63%)
View Full Chart
Unlock our analysis with Morningstar Investor

Company Report

Pioneer Emphasizes Capital Efficiency as It Awaits Exxon Deal

Pioneer is one of the largest Permian Basin oil and gas producers overall. It's also the largest pure play. It has about 800,000 net acres there, all of which are located on the Midland Basin side where it believes it can get the best returns. The firm acquired the bulk of its acreage well before the shale revolution began, with an average acquisition cost of around $500 per acre. That's a fraction of what most of its peers shelled out during the land grab at the beginning of the Permian boom, giving the firm a unique advantage. Most of this acreage is located in the core of the play, where well performance is typically strongest. That gives Pioneer an extensive runway of low-cost drilling opportunities primarily targeting the Wolfcamp A, Wolfcamp B, and Spraberry reservoirs.

Price vs Fair Value

PXD is trading at a 11% discount.
Price
$273.51
Fair Value
$513.00
Uncertainty
Medium
1-Star Price
$724.71
5-Star Price
$637.60
Economic Moat
Fscvh
Capital Allocation
Znnxzktb

Bulls Say, Bears Say

Bulls

Pioneer’s low-cost Permian Basin activities enable it to generate stronger margins and returns than most other independent oil producers.

Bears

Production growth could periodically outpace midstream capacity additions in the Permian Basin, causing bottlenecks and volatile basis differentials.

Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if PXD is a good fit for your portfolio.

News

Trading Information

Previous Close Price
$273.51
Day Range
$270.77275.57
52-Week Range
$196.75278.83
Bid/Ask
$260.00 / $275.25
Market Cap
$64.30 Bil
Volume/Avg
1.9 Mil / 2.0 Mil

Key Statistics

Price/Earnings (Normalized)
12.72
Price/Sales
3.42
Dividend Yield (Trailing)
3.97%
Dividend Yield (Forward)
3.97%
Total Yield
5.07%

Company Profile

Headquartered in Irving, Texas, Pioneer Natural Resources is an independent oil and gas exploration and production company focusing on the Permian Basin in Texas. At year-end 2022, Pioneer's proven reserves were 2.4 billion barrels of oil equivalent with net production for the year of 650 mboe per day. Oil and natural gas liquids represented 79% of production.
Sector
Energy
Industry
Oil & Gas E&P
Stock Style Box
Large Value
Total Number of Employees
2,213

Competitors

Valuation

Metric
PXD
FANG
MRO
Price/Earnings (Normalized)
12.7210.919.94
Price/Book Value
2.762.181.43
Price/Sales
3.424.372.64
Price/Cash Flow
7.686.484.04
Price/Earnings
PXD
FANG
MRO

Financial Strength

Metric
PXD
FANG
MRO
Quick Ratio
0.660.680.33
Current Ratio
0.880.770.40
Interest Coverage
44.9525.266.55
Quick Ratio
PXD
FANG
MRO

Profitability

Metric
PXD
FANG
MRO
Return on Assets (Normalized)
13.94%12.53%7.99%
Return on Equity (Normalized)
22.40%21.98%14.05%
Return on Invested Capital (Normalized)
18.32%15.63%10.90%
Return on Assets
PXD
FANG
MRO
See how this stock stacks up to its competitors with Morningstar Investor

Oil & Gas E&P Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
COP
ConocoPhillipsSfpzynxbtZplmf$151.5 Bil
EOG
EOG Resources IncXvjkqswqrJvtprv$77.0 Bil
OXY
Occidental Petroleum CorpJmrlrrtjWjrtg$59.7 Bil
HES
Hess CorpQrzbndvwSldvn$47.6 Bil
FANG
Diamondback Energy IncFjcxdtxqhPvpbqb$36.4 Bil
DVN
Devon Energy CorpBztgkwqqsMwbwhc$33.4 Bil
MRO
Marathon Oil CorpRcvbxlypQqqt$15.9 Bil
APA
APA CorpFbbjplcTcm$12.0 Bil
AR
Antero Resources CorpKnpggcbDmlg$9.2 Bil

Sponsor Center