Pioneer Natural Resources (PXD) Update - Feb 5

[dan_s]

Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") announced today that its Board of Directors approved an increase in the Company’s quarterly cash dividend to $0.56 per share (equivalent to $2.24 per share on an annualized basis). The quarterly dividend of $0.56 per share is payable April 14, 2021, to stockholders of record at the close of business on March 31, 2021.

I am expecting Devon Energy (DVN) to announce a BIG increase in their dividends because it was promised as part of the merger with WPX. Based on my forecast, Devon's operating cash flow will be approximately $3.6 Billion this year. Their capital expenditures should be ~50% of their cash flow, leaving a lot of cash for dividends, debt repayment and stock buybacks.