PIONEER NATURAL RESOURCES Reports Q2 Earnings for FY2023
August 8, 2023
☀️Earnings Overview
PIONEER NATURAL RESOURCES ($NYSE:PXD) reported their second quarter FY2023 earnings on August 1, 2023, for the period ending June 30, 2023. A total of USD 4.6 billion in revenue was recorded, a 34.9% decrease from the same quarter of the prior year. Net income also experienced a 53.6% dip, reaching USD 1.1 billion.
Stock Price
At the opening of the day, PIONEER NATURAL RESOURCES stock was trading at $224.0 and closed the day at $224.7, a 0.4% drop from the previous closing price of $225.7. Despite the slight dip in stock prices, PIONEER NATURAL RESOURCES reported strong growth in the second quarter. The company also reported record production levels, which is expected to continue in the upcoming quarters. PIONEER NATURAL RESOURCES has taken steps to ensure that their positive financial performance continues, including divesting some non-core assets and increasing their focus on core operations.
This strategy has proven successful, as demonstrated by their improved financial standing and continued production growth. Overall, it is clear that PIONEER NATURAL RESOURCES has had a successful second quarter despite the slight dip in stock prices. The company’s strong performance is a testament to their commitment to long-term stability and profitability, and it appears as though they will remain on track to continue to deliver positive returns for investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PXD. More…
| Total Revenues | Net Income | Net Margin |
| 20.39k | 5.78k | 28.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PXD. More…
| Operations | Investing | Financing |
| 9.58k | -3.99k | -8.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PXD. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 35.49k | 13.49k | 94.12 |
Key Ratios Snapshot
Some of the financial key ratios for PXD are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 35.5% | 97.1% | 36.6% |
| FCF Margin | ROE | ROA |
| 24.8% | 21.3% | 13.1% |
Analysis
GoodWhale can help you analyze PIONEER NATURAL RESOURCES’s financials. Our risk rating of PIONEER NATURAL RESOURCES is medium, which means that this investment could have an average balance of risk and reward. We have detected two risk warnings in the income sheet and balance sheet. If you would like to go deeper, register on GoodWhale.com to view them. We provide a full suite of analytical tools to help you make an informed decision. More…
Peers
Pioneer Natural Resources Co is an oil and gas exploration and production company with operations in the United States, South Africa, and Tunisia. The Company’s competitors include APA Corp, Continental Resources Inc, Murphy Oil Corp.
– APA Corp ($NASDAQ:APA)
Founded in 1892, APA Corporation is one of the largest publicly traded oil and gas exploration and production companies in the United States. The company has a market capitalization of $13.68 billion and a return on equity of 1079.73%. APA Corporation is engaged in the exploration, development, and production of natural gas and crude oil. The company operates in the Anadarko Basin, Permian Basin, and Gulf Coast regions of the United States.
– Continental Resources Inc ($NYSE:CLR)
Continental Resources is an American petroleum and natural gas exploration and production company with operations in the Bakken formation in North Dakota and Montana. The company is headquartered in Oklahoma City, Oklahoma. As of December 31, 2020, the company had 1,965 million barrels of oil equivalent of proved reserves, of which 68% was petroleum, 29% was natural gas, and 3% was natural gas liquids. Production averaged 467,000 barrels of oil equivalent per day in 2020.
– Murphy Oil Corp ($NYSE:MUR)
Murphy Oil Corporation is an American oil and gas company headquartered in Houston, Texas. The company was founded in 1950 and is engaged in the exploration, production, and marketing of crude oil, natural gas, and natural gas liquids. Murphy Oil Corporation operates in three segments: Exploration and Production, Refining and Marketing, and Corporate. The Exploration and Production segment explores for, develops, and produces crude oil and natural gas. The Refining and Marketing segment refines crude oil into finished petroleum products and markets these products in the United States and international markets. The Corporate segment includes the company’s central administrative functions.
Summary
Pioneer Natural Resources reported their second quarter earnings results for FY2023 ending June 30, 2023, showing a decline in total revenue of 34.9% and net income by 53.6%, respectively, compared to the same time period from the previous year. Investors analyzing the company’s performance should be aware of the overall decrease in revenue and net income. Nevertheless, investors should consider additional factors such as financial health, liquidity, and potential for growth as they evaluate their investment in Pioneer Natural Resources.
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