Pioneer Natural Resources is reaping the benefits of higher oil and gas prices

Trending News ☀️

Pioneer Natural Resources ($NYSE:PXD) is a leading oil and gas exploration and production company with operations in the United States and Argentina. Energy prices in the fourth quarter of 2022 are expected to be higher than in the same period last year. However, the current market conditions are not as strong as they were a few months ago. However, the company’s stock price is not as high as it was a few months ago, when energy prices were at their peak.

Stock Price

The company’s stock opened at $259.8 on Wednesday and closed at $254.1, down 3.2% from the previous day’s close of $262.4. The majority of media coverage surrounding Pioneer has been negative, with many analysts predicting that the company would struggle in the face of low oil prices. The company has operations in Texas, North Dakota, Colorado, and other states. The company has a strong balance sheet and is one of the few producers that is still profitable at current prices. Pioneer is also one of the few companies that is still investing in new projects.

Sheffield believes that prices will continue to rise in the coming years as global demand increases. The company has a strong balance sheet, is profitable at current prices, and is still investing in new projects. CEO Scott Sheffield is bullish on the outlook for oil and gas prices, believing that they will continue to rise in the coming years.

VI Analysis

The company has a strong balance sheet and is capable of sustaining future operations.

VI 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 is an oil and gas exploration and production company with operations in the United States and South Africa. The company’s shares are publicly traded on the New York Stock Exchange (NYSE: PXD). The company’s operations are focused in three main areas: the Permian Basin in Texas, the Eagle Ford Shale in Texas, and the Orange Basin in South Africa. The company’s operations in the Permian Basin are focused on horizontal drilling in the Wolfcamp, Bone Spring, and Spraberry plays.

The company’s operations in the Eagle Ford Shale are focused on horizontal drilling in the oil-rich portion of the play. The joint venture is currently developing a natural gas discovery offshore South Africa.