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Pioneer Natural Resources

NYSE:PXD
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PXD
NYSE
$29B
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The last earnings update was 52 days ago. More info.


Add to Portfolio Compare Print
  • Pioneer Natural Resources has significant price volatility in the past 3 months.
PXD Share Price and Events
7 Day Returns
4%
NYSE:PXD
-0.6%
US Oil and Gas
0.2%
US Market
1 Year Returns
-10.2%
NYSE:PXD
-7.4%
US Oil and Gas
6.3%
US Market
PXD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pioneer Natural Resources (PXD) 4% 21.2% 20.8% -10.2% 14.3% -8.8%
US Oil and Gas -0.6% 1.3% 4.9% -7.4% 4.2% -27.6%
US Market 0.2% 2.1% 8.5% 6.3% 37.9% 45.7%
1 Year Return vs Industry and Market
  • PXD underperformed the Oil and Gas industry which returned -7.4% over the past year.
  • PXD underperformed the Market in United States of America which returned 6.3% over the past year.
Price Volatility
PXD
Industry
5yr Volatility vs Market

Value

 Is Pioneer Natural Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pioneer Natural Resources to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pioneer Natural Resources.

NYSE:PXD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 25 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:PXD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.933 (1 + (1- 21%) (7.74%))
0.993
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.993 * 5.96%)
8.65%

Discounted Cash Flow Calculation for NYSE:PXD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pioneer Natural Resources is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:PXD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.65%)
2019 46.60 Analyst x5 42.89
2020 490.90 Analyst x8 415.86
2021 811.00 Analyst x2 632.34
2022 1,096.99 Est @ 35.26% 787.24
2023 1,376.76 Est @ 25.5% 909.36
2024 1,633.83 Est @ 18.67% 993.25
2025 1,860.75 Est @ 13.89% 1,041.16
2026 2,056.90 Est @ 10.54% 1,059.30
2027 2,225.52 Est @ 8.2% 1,054.90
2028 2,371.46 Est @ 6.56% 1,034.60
Present value of next 10 years cash flows $7,970.89
NYSE:PXD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $2,371.46 × (1 + 2.73%) ÷ (8.65% – 2.73%)
$41,161.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $41,161.30 ÷ (1 + 8.65%)10
$17,957.45
NYSE:PXD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $7,970.89 + $17,957.45
$25,928.34
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $25,928.34 / 168.49
$153.89
NYSE:PXD Discount to Share Price
Calculation Result
Value per share (USD) From above. $153.89
Current discount Discount to share price of $175.06
= -1 x ($175.06 - $153.89) / $153.89
-13.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Pioneer Natural Resources is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pioneer Natural Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pioneer Natural Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:PXD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $5.69
NYSE:PXD Share Price ** NYSE (2019-04-18) in USD $175.06
United States of America Oil and Gas Industry PE Ratio Median Figure of 107 Publicly-Listed Oil and Gas Companies 13.18x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pioneer Natural Resources.

NYSE:PXD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PXD Share Price ÷ EPS (both in USD)

= 175.06 ÷ 5.69

30.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pioneer Natural Resources is overvalued based on earnings compared to the US Oil and Gas industry average.
  • Pioneer Natural Resources is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Pioneer Natural Resources's expected growth come at a high price?
Raw Data
NYSE:PXD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 25 Analysts
20.1%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 77 Publicly-Listed Oil and Gas Companies 0.59x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:PXD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.77x ÷ 20.1%

1.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pioneer Natural Resources is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pioneer Natural Resources's assets?
Raw Data
NYSE:PXD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $71.45
NYSE:PXD Share Price * NYSE (2019-04-18) in USD $175.06
United States of America Oil and Gas Industry PB Ratio Median Figure of 191 Publicly-Listed Oil and Gas Companies 1.13x
United States of America Market PB Ratio Median Figure of 5,178 Publicly-Listed Companies 1.91x
NYSE:PXD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PXD Share Price ÷ Book Value per Share (both in USD)

= 175.06 ÷ 71.45

2.45x

* Primary Listing of Pioneer Natural Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pioneer Natural Resources is overvalued based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Pioneer Natural Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Pioneer Natural Resources has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Pioneer Natural Resources expected to perform in the next 1 to 3 years based on estimates from 25 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
20.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pioneer Natural Resources expected to grow at an attractive rate?
  • Pioneer Natural Resources's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Pioneer Natural Resources's earnings growth is expected to exceed the United States of America market average.
  • Pioneer Natural Resources's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:PXD Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:PXD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 25 Analysts 20.1%
NYSE:PXD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 25 Analysts 8.2%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 10.4%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:PXD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 25 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:PXD Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 11,586 6,641 3,195 2
2022-12-31 13,984 5,639 2,543 2
2021-12-31 13,046 4,946 2,022 4
2020-12-31 10,807 4,184 1,594 9
2019-12-31 9,440 3,484 1,365 9
NYSE:PXD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 9,092 3,242 973
2018-09-30 8,942 3,117 1,312
2018-06-30 7,767 2,699 880
2018-03-31 6,510 2,280 1,045
2017-12-31 5,294 2,099 827
2017-09-30 4,309 1,841 124
2017-06-30 4,113 1,827 169
2017-03-31 4,002 1,753 -331
2016-12-31 3,509 1,500 -556
2016-09-30 3,534 1,418 -1,132
2016-06-30 3,330 1,335 -512
2016-03-31 3,154 1,254 -459

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pioneer Natural Resources's earnings are expected to grow significantly at over 20% yearly.
  • Pioneer Natural Resources's revenue is expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:PXD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 25 Analyst Estimates (S&P Global) See Below

All data from Pioneer Natural Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PXD Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 19.24 25.92 12.89 3.00
2022-12-31 15.26 18.92 12.33 3.00
2021-12-31 11.96 13.59 10.34 5.00
2020-12-31 9.63 13.38 6.80 19.00
2019-12-31 7.92 9.90 6.25 21.00
NYSE:PXD Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 5.69
2018-09-30 7.68
2018-06-30 5.16
2018-03-31 6.15
2017-12-31 4.86
2017-09-30 0.73
2017-06-30 1.00
2017-03-31 -1.97
2016-12-31 -3.35
2016-09-30 -7.03
2016-06-30 -3.28
2016-03-31 -3.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Pioneer Natural Resources is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pioneer Natural Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pioneer Natural Resources has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pioneer Natural Resources's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pioneer Natural Resources has delivered over 20% year on year earnings growth in the past 5 years.
  • Pioneer Natural Resources's 1-year earnings growth is less than its 5-year average (17.7% vs 31.7%)
  • Pioneer Natural Resources's earnings growth has not exceeded the US Oil and Gas industry average in the past year (17.7% vs 44.3%).
Earnings and Revenue History
Pioneer Natural Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pioneer Natural Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PXD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 9,092.00 973.00 489.00
2018-09-30 8,942.00 1,312.00 464.00
2018-06-30 7,767.00 880.00 449.00
2018-03-31 6,510.00 1,045.00 424.00
2017-12-31 5,294.00 827.00 420.00
2017-09-30 4,309.00 124.00 427.00
2017-06-30 4,113.00 169.00 428.00
2017-03-31 4,002.00 -331.00 426.00
2016-12-31 3,509.00 -556.00 403.00
2016-09-30 3,534.00 -1,132.00 388.00
2016-06-30 3,330.00 -512.00 387.00
2016-03-31 3,154.00 -459.00 402.00
2015-12-31 2,878.00 -266.00 415.00
2015-09-30 3,320.00 777.00 446.00
2015-06-30 3,603.00 543.00 449.00
2015-03-31 3,910.00 813.00 441.00
2014-12-31 4,325.00 1,031.00 446.00
2014-09-30 4,282.00 -264.00 440.00
2014-06-30 4,020.00 -601.00 431.00
2014-03-31 3,674.00 -340.00 410.00
2013-12-31 3,422.00 -400.00 378.00
2013-09-30 3,077.26 858.52 301.54
2013-06-30 2,893.05 774.13 286.80
2013-03-31 2,737.97 375.99 284.56
2012-12-31 2,622.00 491.00 319.00
2012-09-30 2,786.17 -15.79 370.17
2012-06-30 2,644.10 341.94 354.03

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Pioneer Natural Resources has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pioneer Natural Resources used its assets less efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • Pioneer Natural Resources has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pioneer Natural Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pioneer Natural Resources has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Pioneer Natural Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pioneer Natural Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pioneer Natural Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pioneer Natural Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pioneer Natural Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pioneer Natural Resources Company Filings, last reported 3 months ago.

NYSE:PXD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 12,111.00 2,284.00 1,440.00
2018-09-30 11,894.00 2,286.00 1,476.00
2018-06-30 11,484.00 2,285.00 1,183.00
2018-03-31 11,402.00 2,733.00 1,723.00
2017-12-31 11,279.00 2,732.00 2,109.00
2017-09-30 10,597.00 2,731.00 1,998.00
2017-06-30 10,602.00 2,730.00 2,204.00
2017-03-31 10,348.00 2,729.00 2,215.00
2016-12-31 10,411.00 3,213.00 2,565.00
2016-09-30 10,431.00 3,219.00 2,624.00
2016-06-30 10,386.00 3,673.00 3,298.00
2016-03-31 9,695.00 3,662.00 2,505.00
2015-12-31 8,375.00 3,655.00 1,391.00
2015-09-30 8,981.00 2,677.00 581.00
2015-06-30 8,308.00 2,672.00 219.00
2015-03-31 8,499.00 2,681.00 383.00
2014-12-31 8,589.00 2,651.00 1,025.00
2014-09-30 7,153.00 2,662.00 550.00
2014-06-30 6,750.00 2,659.00 445.00
2014-03-31 6,724.00 2,710.00 267.00
2013-12-31 6,615.00 2,663.00 403.00
2013-09-30 7,762.75 2,854.34 753.46
2013-06-30 7,648.16 2,823.43 695.63
2013-03-31 7,266.07 3,023.06 430.30
2012-12-31 5,867.31 3,730.92 229.40
2012-09-30 5,800.11 3,562.07 333.89
2012-06-30 5,756.98 3,285.50 317.77
  • Pioneer Natural Resources's level of debt (18.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (40.3% vs 18.9% today).
  • Debt is well covered by operating cash flow (141.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.1x coverage).
X
Financial health checks
We assess Pioneer Natural Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pioneer Natural Resources has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.37%
Current annual income from Pioneer Natural Resources dividends. Estimated to be 0.31% next year.
If you bought $2,000 of Pioneer Natural Resources shares you are expected to receive $7 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Pioneer Natural Resources's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Pioneer Natural Resources's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:PXD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 25 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:PXD Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.56 4.00
2020-12-31 0.48 6.00
2019-12-31 0.59 6.00
NYSE:PXD Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-26 0.640 0.438
2019-02-13 0.640 0.448
2018-08-30 0.320 0.211
2018-08-09 0.320 0.181
2018-08-07 0.320 0.171
2018-02-06 0.320 0.174
2017-08-24 0.080 0.052
2017-08-01 0.080 0.059
2017-02-28 0.080 0.047
2017-02-17 0.080 0.043
2017-02-07 0.080 0.042
2016-08-25 0.080 0.044
2016-07-28 0.080 0.046
2016-07-27 0.080 0.052
2016-03-02 0.080 0.053
2016-02-19 0.080 0.065
2016-02-10 0.080 0.068
2015-08-27 0.080 0.063
2015-08-07 0.080 0.066
2015-08-04 0.080 0.064
2015-03-04 0.080 0.053
2015-02-19 0.080 0.051
2015-02-10 0.080 0.052
2014-08-20 0.080 0.048
2014-08-06 0.080 0.039
2014-08-04 0.080 0.038
2014-02-19 0.080 0.039
2014-02-10 0.080 0.043
2013-08-19 0.080 0.043
2013-08-06 0.080 0.046
2013-07-31 0.080 0.046
2013-02-21 0.080 0.060
2013-02-13 0.080 0.062
2012-08-23 0.080 0.075
2012-08-07 0.080 0.081
2012-07-31 0.080 0.085
2012-02-23 0.080 0.081
2012-02-06 0.080 0.072
2011-08-26 0.080 0.095
2011-08-05 0.080 0.106
2011-08-03 0.080 0.097
2011-02-17 0.080 0.085
2011-02-07 0.080 0.082
2010-08-30 0.080 0.104
2010-07-30 0.080 0.137
2010-07-28 0.080 0.137
2010-02-17 0.080 0.136
2010-02-02 0.080 0.173
2009-08-27 0.080 0.196
2009-04-20 0.200 0.760

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pioneer Natural Resources is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • Pioneer Natural Resources is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Pioneer Natural Resources's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Pioneer Natural Resources's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of Pioneer Natural Resources's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Pioneer Natural Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pioneer Natural Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pioneer Natural Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Pioneer Natural Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Scott Sheffield
COMPENSATION $0
AGE 65
TENURE AS CEO 0.2 years
CEO Bio

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 serves as President and Chief Executive Officer of Pioneer Natural Resources Company since February 22, 2019. Mr. Sheffield served as the Chief Executive Officer of Pioneer Natural Resources Company from August 1997 to December 31, 2016. He served as the President and Assistant Secretary of Pioneer Natural Resources Co. from August 1997 to November 2004 and its predecessor company, Parker & Parsley Petroleum Company. He served as the President of Parker & Parsley Petroleum Company "Parker & Parsley" since May 1990 and served as Chairman of the Board and Chief Executive Officer of Parker & Parsley from October 1990 to 1997. He served as Vice President of Engineering of PPDC from September 1981 to April 1985. He was employed as a Production and Reservoir Engineer for Amoco Production Company. Mr. Sheffield served as Executive Chairman of Pioneer Natural Resources Company from August 1999 to 2018. He had been Chairman of Pioneer Natural Resources Company from 2018 to February 22, 2019 and serves as its Non-Executive Director from 1997. He has been Independent Director of WPZ GP LLC at Williams Partners L.P. since 2016. He has been an Independent Director at The Williams Companies, Inc. since August 29, 2016. He served as an Independent Non Executive Director of Santos Limited since February 24, 2014 until May 4, 2017. He serves on various industry and education-related boards, including the National Petroleum Council and the Maguire Energy Institute of the SMU Cox School of Business. He served as a Director of Evergreen Resources Inc. since September 1996. He is a Advisory Board of The Center for Global Energy Policy at Columbia University; CSL Capital Management, LLC; L1 Energy (UK) LLP. Mr. Sheffield has more than 25 years’ experience and his extensive experience in petroleum engineering, and knowledge of the E&P industry, its operations and related technology matters, corporate finance, capital markets and mergers and acquisitions, strategic planning, marketing and hedging transactions, international business matters, governmental and regulatory matters and human resources. He is a recipient of the Permian Basin Association’s Top Hand award, which recognizes individuals who have demonstrated exceptional leadership within the oil and gas industry and the Permian Basin community. He is also a 2013 inductee into the Permian Basin Petroleum Museum Hall of Fame. Mr. Sheffield obtained a Bachelor of Science Degree in Petroleum Engineering from the University of Texas.

CEO Compensation
  • Scott's compensation has been consistent with company performance over the past year.
  • Scott's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Pioneer Natural Resources management team in years:

5.2
Average Tenure
54
Average Age
  • The average tenure for the Pioneer Natural Resources management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Scott Sheffield

TITLE
President
AGE
65
TENURE
0.2 yrs

Richard Dealy

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
52
TENURE
14.4 yrs

Chris Cheatwood

TITLE
Executive VP & Chief Technology Officer
COMPENSATION
$3M
AGE
57
TENURE
1.8 yrs

Mark Berg

TITLE
Executive Vice President of Corporate/Vertically Integrated Operations
COMPENSATION
$3M
AGE
59
TENURE
14 yrs

Joey Hall

TITLE
Executive Vice President of Permian Operations
COMPENSATION
$4M
AGE
52
TENURE
5.8 yrs

Margaret Montemayor

TITLE
VP & Chief Accounting Officer
AGE
40
TENURE
5.1 yrs

Stephanie Stewart

TITLE
VP & Chief Information Officer
AGE
49
TENURE
4.8 yrs

Larry Paulsen

TITLE
Senior Vice President of Administration and Risk Management
TENURE
5.3 yrs

Neal Shah

TITLE
Vice President of Investor Relations
TENURE
1.8 yrs

Mark Kleinman

TITLE
Senior VP
AGE
56
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the Pioneer Natural Resources board of directors in years:

5.8
Average Tenure
65
Average Age
  • The tenure for the Pioneer Natural Resources board of directors is about average.
Board of Directors

Ken Thompson

TITLE
Chairman & Lead Director
COMPENSATION
$307K
AGE
66
TENURE
0.2 yrs

Scott Sheffield

TITLE
President
AGE
65
TENURE
22.3 yrs

Edison Buchanan

TITLE
Independent Director
COMPENSATION
$307K
AGE
63
TENURE
17.3 yrs

Frank Risch

TITLE
Independent Director
COMPENSATION
$303K
AGE
75
TENURE
13.7 yrs

Stacy Methvin

TITLE
Independent Director
COMPENSATION
$300K
AGE
61
TENURE
5.8 yrs

Andrew Cates

TITLE
Independent Director
COMPENSATION
$282K
AGE
47
TENURE
9.8 yrs

Larry Grillot

TITLE
Independent Director
COMPENSATION
$285K
AGE
71
TENURE
5.8 yrs

Phoebe Wood

TITLE
Independent Director
COMPENSATION
$284K
AGE
65
TENURE
5.8 yrs

Phillip Gobe

TITLE
Independent Director
COMPENSATION
$281K
AGE
65
TENURE
4.8 yrs

Royce Mitchell

TITLE
Independent Director
COMPENSATION
$282K
AGE
63
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
28. Dec 18 Buy Andrew Cates Individual 26. Dec 18 27. Dec 18 790 $126.63 $98,175
20. Dec 18 Sell Timothy Dove Individual 18. Dec 18 19. Dec 18 -4,800 $136.50 $-644,080
30. May 18 Sell Larry Grillot Individual 29. May 18 29. May 18 -200 $191.13 $-38,226
21. May 18 Sell Scott Sheffield Individual 17. May 18 21. May 18 -20,000 $212.63 $-4,223,100
21. May 18 Sell Timothy Dove Individual 18. May 18 18. May 18 -2,178 $212.44 $-462,694
21. May 18 Sell Mark Kleinman Individual 18. May 18 18. May 18 -1,025 $210.02 $-215,269
21. May 18 Sell James Thompson Individual 21. May 18 21. May 18 -1,000 $212.17 $-212,170
21. May 18 Sell Chris Cheatwood Individual 17. May 18 17. May 18 -4,171 $212.31 $-885,545
21. May 18 Sell Mark Berg Individual 17. May 18 17. May 18 -2,500 $212.32 $-530,793
18. May 18 Sell Frank Hopkins Individual 16. May 18 16. May 18 -893 $206.61 $-184,504
17. May 18 Sell Jerome Hall Individual 16. May 18 16. May 18 -2,000 $206.73 $-413,452
17. May 18 Sell Timothy Dove Individual 15. May 18 15. May 18 -5,000 $202.25 $-1,011,250
14. May 18 Sell Scott Sheffield Individual 10. May 18 11. May 18 -40,000 $203.51 $-8,099,456
14. May 18 Sell William Hannes Individual 10. May 18 10. May 18 -10,000 $203.00 $-2,030,000
14. May 18 Sell Kenneth Sheffield Individual 11. May 18 11. May 18 -5,000 $203.19 $-1,015,950
14. May 18 Sell Mark Berg Individual 11. May 18 11. May 18 -2,000 $201.95 $-403,900
11. May 18 Sell Andrew Cates Individual 10. May 18 10. May 18 -2,500 $200.62 $-501,550
11. May 18 Sell Chris Cheatwood Individual 09. May 18 09. May 18 -5,184 $203.54 $-1,055,136
09. May 18 Sell Frank Risch Individual 09. May 18 09. May 18 -1,000 $202.16 $-202,158
09. May 18 Sell Edison Buchanan Individual 09. May 18 09. May 18 -2,693 $203.04 $-546,787
09. May 18 Sell Stephanie Stewart Individual 09. May 18 09. May 18 -900 $203.52 $-183,168
09. May 18 Sell Frank Hopkins Individual 07. May 18 09. May 18 -1,192 $203.19 $-238,327
X
Management checks
We assess Pioneer Natural Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pioneer Natural Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Pioneer Natural Resources Company (NYSE:PXD): Will The Growth Last?

In December 2018, Pioneer Natural Resources Company (NYSE:PXD) announced its earnings update. … analyst consensus outlook appear cautiously optimistic, … with profits predicted to increase by 27% next year,

Simply Wall St -

Pioneer Natural Resources Company (NYSE:PXD) Delivered A Weaker ROE Than Its Industry

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … To keep the lesson grounded in practicality, we'll use ROE to better understand Pioneer Natural Resources Company (NYSE:PXD). … Over the last twelve months Pioneer Natural Resources has recorded a ROE of 8.1%.

Simply Wall St -

Pioneer Natural Resources Company (NYSE:PXD): Financial Strength Analysis

With a market capitalization of US$23b, Pioneer Natural Resources Company (NYSE:PXD) is a large-cap stock, which is considered by most investors as a safe bet. … Using the most recent data for PXD, I will determine its financial status based on its solvency and liquidity, and assess whether the stock is a safe investment. … Check out our latest analysis for Pioneer Natural Resources?

Simply Wall St -

Introducing Pioneer Natural Resources, The Stock That Dropped 26% In The Last Five Years

One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During five years of share price growth, Pioneer Natural Resources moved from a loss to profitability. … We don't think that the 0.5% is big factor in the share price, since it's quite small, as dividends go.

Simply Wall St -

What Should We Expect From Pioneer Natural Resources Company's (NYSE:PXD) Earnings In The Next Couple Of Years?

Help shape the future of investing tools and receive a $20 prize! … The most recent earnings release Pioneer Natural Resources Company's (NYSE:PXD) announced in December 2018a

Simply Wall St -

Have Insiders Been Selling Pioneer Natural Resources Company (NYSE:PXD) Shares This Year?

So shareholders might well want to know whether insiders have been buying or selling shares in Pioneer Natural Resources Company (NYSE:PXD). … Pioneer Natural Resources Insider Transactions Over The Last Year … Over the last year, we can see that the biggest insider sale was by Chairman of the Board Scott Sheffield for US$8.1m worth of shares, at about US$204 per share

Simply Wall St -

Evaluating Pioneer Natural Resources Company’s (NYSE:PXD) Investments In Its Business

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Why Pioneer Natural Resources Company (NYSE:PXD) Is A Star In A Falling Market

This is the best time to buy stocks like Pioneer Natural Resources Company at a discount. … View our latest analysis for Pioneer Natural Resources? … Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States

Simply Wall St -

Does Pioneer Natural Resources Company's (NYSE:PXD) Stock Price Account For Its Growth?

Pioneer Natural Resources Company (NYSE:PXD) closed yesterday at $130.51, which left some investors asking whether the high earnings potential can still be justified at this price. … See our latest analysis for Pioneer Natural Resources? … Pioneer Natural Resources is poised for significantly high earnings growth in the near future

Simply Wall St -

What Pioneer Natural Resources Company's (NYSE:PXD) ROE Can Tell Us

Pioneer Natural Resources has a ROE of 11%, based on the last twelve months. … That means that for every $1 worth of shareholders' equity, it generated $0.11 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

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.

Details
Name: Pioneer Natural Resources Company
PXD
Exchange: NYSE
Founded:
$29,495,206,076
168,486,268
Website: http://www.pxd.com
Address: Pioneer Natural Resources Company
5205 North O'Connor Boulevard,
Suite 200,
Irving,
Texas, 75039,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PXD Common Stock New York Stock Exchange US USD 20. Feb 1991
DB PNK Common Stock Deutsche Boerse AG DE EUR 20. Feb 1991
LSE 0KIX Common Stock London Stock Exchange GB USD 20. Feb 1991
Number of employees
Current staff
Staff numbers
3,177
Pioneer Natural Resources employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 23:40
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.