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Pioneer Natural Resources

DB:PNK
Snowflake Description

Undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PNK
DB
$11B
Market Cap
  1. Home
  2. DE
  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 35 days ago. More info.


Add to Portfolio Compare Print
  • Pioneer Natural Resources has significant price volatility in the past 3 months.
PNK Share Price and Events
7 Day Returns
7.1%
DB:PNK
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-56.2%
DB:PNK
21.9%
DE Oil and Gas
-17.7%
DE Market
PNK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pioneer Natural Resources (PNK) 7.1% -45.5% -55.6% -56.2% -65.4% -62%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • PNK underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • PNK underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
PNK
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.

DB:PNK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 23 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:PNK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 21%) (27.84%))
0.99
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)
= -0.39% + (0.99 * 5.44%)
5%

Discounted Cash Flow Calculation for DB:PNK 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:PNK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5%)
2020 408.22 Analyst x9 388.79
2021 503.24 Analyst x7 456.47
2022 940.33 Analyst x3 812.34
2023 1,177.00 Analyst x2 968.39
2024 1,300.00 Analyst x1 1,018.68
2025 1,381.45 Est @ 6.27% 1,030.97
2026 1,440.41 Est @ 4.27% 1,023.81
2027 1,481.77 Est @ 2.87% 1,003.07
2028 1,509.81 Est @ 1.89% 973.40
2029 1,528.05 Est @ 1.21% 938.27
Present value of next 10 years cash flows $8,614.00
DB:PNK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,528.05 × (1 + -0.39%) ÷ (5% – -0.39%)
$28,249.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $28,249.49 ÷ (1 + 5%)10
$17,345.98
DB:PNK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $8,614.00 + $17,345.98
$25,959.98
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $25,959.98 / 165.71
$156.65
DB:PNK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PNK represents 0.90239x of NYSE:PXD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90239x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 156.65 x 0.90239
€141.36
Value per share (EUR) From above. €141.36
Current discount Discount to share price of €60.00
= -1 x (€60.00 - €141.36) / €141.36
57.6%

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

Current Discount
Amount off the current price Pioneer Natural Resources is available for.
Intrinsic value
>50%
Share price is €60 vs Future cash flow value of €141.36
Current Discount Checks
For Pioneer Natural Resources to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pioneer Natural Resources's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pioneer Natural Resources's share price is below the future cash flow value, and at a substantial discount (> 40%).
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
DB:PNK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $4.51
NYSE:PXD Share Price ** NYSE (2020-03-30) in USD $66.49
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of Pioneer Natural Resources.

DB:PNK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 66.49 ÷ 4.51

14.75x

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 Europe Oil and Gas industry average.
  • Pioneer Natural Resources is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Pioneer Natural Resources's expected growth come at a high price?
Raw Data
DB:PNK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts
19.6%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:PNK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.75x ÷ 19.6%

0.75x

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

  • Pioneer Natural Resources is good 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
DB:PNK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $73.21
NYSE:PXD Share Price * NYSE (2020-03-30) in USD $66.49
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:PNK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 66.49 ÷ 73.21

0.91x

* 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 good value based on assets compared to the DE 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 5/6, 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 23 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
19.6%
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 -0.4%.
Growth vs Market Checks
  • Pioneer Natural Resources's earnings growth is expected to exceed the Germany market average.
  • Pioneer Natural Resources's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PNK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PNK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts 19.6%
DB:PNK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts -6.3%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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
DB:PNK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PNK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 7,753 6,646 2,710 1
2023-12-31 7,614 4,247 2,057 1
2022-12-31 7,957 3,522 958 3
2021-12-31 7,463 2,522 470 7
2020-12-31 7,803 2,604 560 8
2020-03-30
DB:PNK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 9,676 3,115 753
2019-09-30 9,239 3,201 731
2019-06-30 9,285 3,181 911
2019-03-31 9,289 3,291 1,144
2018-12-31 9,384 3,242 973
2018-09-30 8,947 3,126 1,312
2018-06-30 7,773 2,706 879
2018-03-31 6,510 2,290 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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pioneer Natural Resources's earnings are expected to grow by 19.6% yearly, however this is not considered high growth (20% yearly).
  • Pioneer Natural Resources's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
DB:PNK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below

All data from Pioneer Natural Resources Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PNK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 20.40 21.40 19.40 2.00
2023-12-31 13.41 17.35 7.83 3.00
2022-12-31 6.59 12.55 0.51 6.00
2021-12-31 2.77 6.53 -1.80 16.00
2020-12-31 3.04 9.79 -0.72 17.00
2020-03-30
DB:PNK Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 4.51
2019-09-30 4.33
2019-06-30 5.36
2019-03-31 6.70
2018-12-31 5.69
2018-09-30 7.68
2018-06-30 5.17
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

*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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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 2/6, 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 negative, it can't be compared to the 5-year average.
  • Pioneer Natural Resources's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
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 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PNK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 9,676.00 753.00 377.00
2019-09-30 9,239.00 731.00 421.00
2019-06-30 9,285.00 911.00 453.00
2019-03-31 9,289.00 1,144.00 481.00
2018-12-31 9,384.00 973.00 489.00
2018-09-30 8,947.00 1,312.00 464.00
2018-06-30 7,773.00 879.00 448.00
2018-03-31 6,510.00 1,045.00 424.00
2017-12-31 5,294.00 827.00 432.00
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

*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 Europe Oil and Gas industry average last year based on Return on Assets.
  • Pioneer Natural Resources has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (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's short term (1 year) commitments are greater than 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 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 2 months ago.

DB:PNK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 12,119.00 2,289.00 818.00
2019-09-30 11,856.00 2,288.00 588.00
2019-06-30 11,876.00 2,286.00 987.00
2019-03-31 12,209.00 2,285.00 1,303.00
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
  • 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 (30.9% vs 18.9% today).
  • Debt is well covered by operating cash flow (136.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.4x 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 4/6, 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
3.31%
Current annual income from Pioneer Natural Resources dividends. Estimated to be 3.36% next year.
If you bought €2,000 of Pioneer Natural Resources shares you are expected to receive €66 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 higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Pioneer Natural Resources's dividend is below the markets top 25% of dividend payers in Germany (4.97%).
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
DB:PNK 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 23 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:PNK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 2.20 1.00
2022-12-31 2.40 5.00
2021-12-31 2.23 10.00
2020-12-31 2.17 10.00
2020-03-30
DB:PNK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-19 2.200 2.607
2019-08-06 1.760 1.319
2019-05-10 0.640 0.445
2019-05-06 0.640 0.419
2019-02-26 0.640 0.427
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

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Pioneer Natural Resources's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
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 1%) - 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 5/6, 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 $637,052
AGE 66
TENURE AS CEO 1 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, both up more than 20%.
  • Scott's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

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

6.2
Average Tenure
53
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
COMPENSATION
$637K
AGE
66
TENURE
1 yrs

Richard Dealy

TITLE
Executive VP & CFO
COMPENSATION
$5M
AGE
53
TENURE
15.3 yrs

Chris Cheatwood

TITLE
Executive Vice President of Field Development & Emerging Technology
COMPENSATION
$4M
AGE
58

Mark Berg

TITLE
Executive Vice President of Corporate Operations
COMPENSATION
$4M
AGE
60
TENURE
14.9 yrs

Joey Hall

TITLE
Executive Vice President of Operations
COMPENSATION
$5M
AGE
53
TENURE
6.8 yrs

Margaret Montemayor

TITLE
VP & Chief Accounting Officer
AGE
41
TENURE
6 yrs

Stephanie Stewart

TITLE
VP & Chief Information Officer
AGE
50
TENURE
5.8 yrs

Larry Paulsen

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

Neal Shah

TITLE
Vice President of Investor Relations
AGE
48
TENURE
2.8 yrs

Mark Kleinman

TITLE
Executive VP & General Counsel
AGE
57
TENURE
6.2 yrs
Board of Directors Tenure

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

6.7
Average Tenure
66
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
$358K
AGE
67
TENURE
1 yrs

Scott Sheffield

TITLE
President
COMPENSATION
$637K
AGE
66
TENURE
23.2 yrs

Frank Risch

TITLE
Independent Director
COMPENSATION
$333K
AGE
76
TENURE
14.6 yrs

Phoebe Wood

TITLE
Independent Director
COMPENSATION
$316K
AGE
66
TENURE
6.7 yrs

Phillip Gobe

TITLE
Independent Director
COMPENSATION
$326K
AGE
66
TENURE
5.7 yrs

Edison Buchanan

TITLE
Independent Director
COMPENSATION
$320K
AGE
64
TENURE
18.2 yrs

Andrew Cates

TITLE
Independent Director
COMPENSATION
$312K
AGE
48
TENURE
10.8 yrs

Larry Grillot

TITLE
Independent Director
COMPENSATION
$315K
AGE
72
TENURE
6.7 yrs

Stacy Methvin

TITLE
Independent Director
COMPENSATION
$330K
AGE
62
TENURE
6.7 yrs

Royce Mitchell

TITLE
Independent Director
COMPENSATION
$315K
AGE
64
TENURE
5.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Pioneer Natural Resources individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
10. Mar 20 Buy James Thompson Individual 06. Mar 20 06. Mar 20 1,000 €90.91 €90,877
23. Dec 19 Sell Mark Kleinman Individual 20. Dec 19 20. Dec 19 -1,750 €133.15 €-233,019
19. Dec 19 Sell Mark Berg Individual 18. Dec 19 18. Dec 19 -3,000 €131.17 €-393,515
19. Dec 19 Sell Bonnie Black Individual 18. Dec 19 18. Dec 19 -500 €131.55 €-65,773
18. Dec 19 Sell Jerome Hall Individual 17. Dec 19 17. Dec 19 -1,750 €129.34 €-226,351
18. Dec 19 Sell Christopher Paulsen Individual 17. Dec 19 17. Dec 19 -1,623 €129.39 €-210,003
18. Dec 19 Sell Elizabeth McDonald Individual 16. Dec 19 16. Dec 19 -1,858 €128.50 €-238,746
06. Dec 19 Sell Stephanie Stewart Individual 04. Dec 19 04. Dec 19 -600 €117.43 €-70,459
06. Dec 19 Sell Margaret Montemayor Individual 05. Dec 19 05. Dec 19 -1,200 €118.13 €-141,758
06. Dec 19 Sell Mark Berg Individual 04. Dec 19 04. Dec 19 -2,000 €116.87 €-233,741
18. Sep 19 Sell Chris Cheatwood Individual 16. Sep 19 16. Sep 19 -5,619 €127.62 €-717,088
28. Aug 19 Buy James Thompson Individual 27. Aug 19 27. Aug 19 500 €109.09 €54,545
14. May 19 Sell Margaret Montemayor Individual 10. May 19 10. May 19 -888 €136.43 €-121,151
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

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, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.

Details
Name: Pioneer Natural Resources Company
PNK
Exchange: DB
Founded: 1997
$10,260,302,132
165,714,771
Website: http://www.pxd.com
Address: Pioneer Natural Resources Company
777 Hidden Ridge,
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
BMV PXD * Common Stock Bolsa Mexicana de Valores MX MXN 20. Feb 1991
ETLX PNK Common Stock Eurotlx IT EUR 20. Feb 1991
BOVESPA P1IO34 BDR EACH 4 REPR 1 COM Bolsa de Valores de Sao Paulo BR BRL 27. Jan 2020
Number of employees
Current staff
Staff numbers
2,323
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: 2020/03/30 22:04
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/24
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.