NYSE:PXD

Stock Analysis Report

Pioneer Natural Resources

Executive Summary

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States.


Snowflake Analysis

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Pioneer Natural Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PXD has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.2%

PXD

-0.7%

US Oil and Gas

-1.0%

US Market


1 Year Return

0.08%

PXD

-18.9%

US Oil and Gas

18.0%

US Market

Return vs Industry: PXD exceeded the US Oil and Gas industry which returned -18.9% over the past year.

Return vs Market: PXD underperformed the US Market which returned 18% over the past year.


Shareholder returns

PXDIndustryMarket
7 Day2.2%-0.7%-1.0%
30 Day1.3%-6.9%0.6%
90 Day9.8%-7.5%7.9%
1 Year0.9%0.08%-15.7%-18.9%20.4%18.0%
3 Year-22.4%-23.3%-12.3%-20.5%48.0%38.5%
5 Year-5.6%-6.7%-21.5%-33.1%72.2%53.3%

Price Volatility Vs. Market

How volatile is Pioneer Natural Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Pioneer Natural Resources undervalued compared to its fair value and its price relative to the market?

31.55x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PXD ($142.25) is trading above our estimate of fair value ($109.84)

Significantly Below Fair Value: PXD is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PXD is poor value based on its PE Ratio (31.5x) compared to the Oil and Gas industry average (10x).

PE vs Market: PXD is poor value based on its PE Ratio (31.5x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: PXD is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: PXD is overvalued based on its PB Ratio (1.9x) compared to the US Oil and Gas industry average (0.8x).


Next Steps

Future Growth

How is Pioneer Natural Resources forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

21.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PXD's forecast earnings growth (21.4% per year) is above the savings rate (1.7%).

Earnings vs Market: PXD's earnings (21.4% per year) are forecast to grow faster than the US market (14.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PXD's revenue (7.4% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: PXD's revenue (7.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PXD's Return on Equity is forecast to be low in 3 years time (18.3%).


Next Steps

Past Performance

How has Pioneer Natural Resources performed over the past 5 years?

24.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PXD has a large one-off loss of $477.0M impacting its December 31 2019 financial results.

Growing Profit Margin: PXD's current net profit margins (7.8%) are lower than last year (10.4%).


Past Earnings Growth Analysis

Earnings Trend: PXD's earnings have grown significantly by 24% per year over the past 5 years.

Accelerating Growth: PXD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PXD had negative earnings growth (-22.6%) over the past year, making it difficult to compare to the Oil and Gas industry average (-13.3%).


Return on Equity

High ROE: PXD's Return on Equity (6.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Pioneer Natural Resources's financial position?


Financial Position Analysis

Short Term Liabilities: PXD's short term assets ($2.2B) do not cover its short term liabilities ($2.5B).

Long Term Liabilities: PXD's short term assets ($2.2B) do not cover its long term liabilities ($4.5B).


Debt to Equity History and Analysis

Debt Level: PXD's debt to equity ratio (18.9%) is considered satisfactory.

Reducing Debt: PXD's debt to equity ratio has reduced from 30.9% to 18.9% over the past 5 years.

Debt Coverage: PXD's debt is well covered by operating cash flow (136.1%).

Interest Coverage: PXD's interest payments on its debt are well covered by EBIT (33.5x coverage).


Balance Sheet

Inventory Level: PXD has a high level of physical assets or inventory.

Debt Coverage by Assets: PXD's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

What is Pioneer Natural Resources's current dividend yield, its reliability and sustainability?

1.55%

Current Dividend Yield


Dividend Yield vs Market

company1.5%marketbottom25%1.4%markettop25%3.7%industryaverage4.6%forecastin3Years1.6%

Current dividend yield vs market & industry

Notable Dividend: PXD's dividend (1.55%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: PXD's dividend (1.55%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: PXD's dividend payments have been volatile in the past 10 years.

Growing Dividend: PXD's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.6%), PXD's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PXD's dividends in 3 years are forecast to be well covered by earnings (19.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.1yrs

Average management tenure


CEO

Scott Sheffield (66yo)

1yrs

Tenure

US$637,052

Compensation

Mr. Scott Douglas Sheffield, B.S. Petroleum Engineering, serves as the Chairman and Chief Executive Officer of Pioneer Southwest Energy Partners L.P. and Pioneer Natural Resources GP, LLC. Mr. Sheffield se ...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD637.05K) is below average for companies of similar size in the US market ($USD10.79M).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Scott Sheffield
President1yrsUS$637.05k0.37% $87.9m
Richard Dealy
Executive VP & CFO15.3yrsUS$4.67m0.15% $35.1m
Chris Cheatwood
Executive Vice President of Field Development & Emerging Technology0yrsUS$3.55m0.028% $6.7m
Mark Berg
Executive Vice President of Corporate/Vertically Integrated Operations14.8yrsUS$3.65m0.049% $11.5m
Jerome Hall
Executive Vice President of Operations6.7yrsUS$4.57m0.027% $6.4m
Margaret Montemayor
VP & Chief Accounting Officer5.9yrsno data0.0050% $1.2m
Stephanie Stewart
VP & Chief Information Officer5.7yrsno data0.0092% $2.2m
Larry Paulsen
Senior Vice President of Administration and Risk Management6.1yrsno datano data
Neal Shah
Vice President of Investor Relations2.7yrsno data0.0068% $1.6m
Mark Kleinman
Executive VP6.1yrsno data0.014% $3.3m

6.1yrs

Average Tenure

55yo

Average Age

Experienced Management: PXD's management team is seasoned and experienced (6.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Scott Sheffield
President1yrsUS$637.05k0.37% $87.9m
James Thompson
Chairman & Lead Director1yrsUS$357.60k0.0086% $2.0m
Phoebe Wood
Independent Director6.6yrsUS$315.91k0.0048% $1.1m
Phillip Gobe
Independent Director5.6yrsUS$325.90k0.0056% $1.3m
Frank Risch
Independent Director14.5yrsUS$332.63k0.0067% $1.6m
Edison Buchanan
Independent Director18.1yrsUS$319.86k0.016% $3.9m
Royce Mitchell
Independent Director5.6yrsUS$314.91k0.0067% $1.6m
Stacy Methvin
Independent Director6.6yrsUS$330.40k0.0063% $1.5m
Andrew Cates
Independent Director10.7yrsUS$312.41k0.010% $2.4m
Larry Grillot
Independent Director6.6yrsUS$314.91k0.0057% $1.4m

6.6yrs

Average Tenure

66yo

Average Age

Experienced Board: PXD's board of directors are considered experienced (6.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PXD insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pioneer Natural Resources Company's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pioneer Natural Resources Company
  • Ticker: PXD
  • Exchange: NYSE
  • Founded:
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: US$23.610b
  • Shares outstanding: 165.65m
  • Website: https://www.pxd.com

Number of Employees


Location

  • Pioneer Natural Resources Company
  • 5205 North O'Connor Boulevard
  • Suite 200
  • Irving
  • Texas
  • 75039
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PXDNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 1991
PNKDB (Deutsche Boerse AG)YesCommon StockDEEURFeb 1991
0KIXLSE (London Stock Exchange)YesCommon StockGBUSDFeb 1991
PXD *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNFeb 1991
PNKETLX (Eurotlx)YesCommon StockITEURFeb 1991
P1IO34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 4 REPR 1 COMBRBRLJan 2020

Biography

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas. As of December 31, 2018, the company had proved undeveloped reserves and proved developed non-producing reserves of 55 million barrels of oil, 24 million barrels of NGLs, and 142 cubic feet of gas; and owned interests in 11 gas processing plants and 2 treating facilities. Pioneer Natural Resources Company is headquartered in Irving, Texas. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/22 00:46
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.