How is Pioneer Natural Resources Company (PXD) faring?

WAN CHAI, Hong Kong - March 29, 2022 - PRLog -- The earnings per share also increased from $1.07 in the previous quarter. Total quarterly revenues of $4,317 million fell short of the $4,798 million consensus estimate. However, the top line increased from $1,856 million in the previous quarter.

Higher oil-equivalent production volumes and commodity price realizations are to blame for the higher-than-expected profitability. Increased expenditures and expenses somewhat outweigh the benefits.

Pioneer Natural declared a dividend payment of $3.78 per share of common stock for the first quarter of 2022, which includes a variable dividend of $3 and a basic dividend of 78 cents. This is an increase of 5.6% over the previous dividend of $3.58 per share. The dividend will be paid on March 14, 2022, to investors who were on the books on February 28, 2022.

In addition, in the fourth quarter of 2021, the business repurchased $250 million in common shares. In addition, the company's board of directors approved a new $4 billion common stock repurchase program to replace the previous $2 billion program.

Pioneer Natural anticipates oil output of 350-365 thousand barrels per day (MBO/d) in 2022. It anticipates a total output of 623-648 MBO/d. The business anticipates oil output of 348-363 MBO/d and a total production of 620-645 MBO/d in the first quarter of 2022.

For 2022, the corporation has a total capital budget of $3.3-$3.6 billion. It bragged that the capital expenditures would be completely financed by the year's estimated cash flow of $10.5 billion. The stock expects to run 22-24 horizontal drilling rigs in the Midland Basin in 2022, with a three-rig average program in the southern Midland Basin joint venture region. The capital budget for 2022 anticipates the completion of 475 to 505 wells.

All in all, the company and its stock is looking forward to a fruitful 2022 with a steady increase in stock value and is definitely a recommended buy right now.

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