Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") today announced that the Company is rescheduling its fourth quarter 2020 earnings release and conference call. The earnings release is now scheduled to be issued after the close of trading on the New York Stock Exchange on Tuesday, February 23, 2021. The conference call to discuss the fourth quarter results and 2021 outlook is now scheduled for Wednesday, February 24, 2021, at 9:00 a.m. Central Time.
The earnings release and conference call have been rescheduled due to impacts from the harsh winter weather occurring across the State of Texas. Pioneer’s first priority is the safety and wellbeing of its employees in the Permian Basin and in Dallas. With temperatures expected to remain below freezing throughout this week, rolling power outages and winter weather conditions are impacting our employees, operations and office facilities. Rescheduling the release and conference call allows time for our employees to safely return to work and to properly assess the impacts of the extreme weather on field operations.
We may see more of this.
PXD Update - Feb 16
PXD Update - Feb 16
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: PXD Update - Feb 16
Stifel on 2/16/2021: Pioneer Natural Resources Company (PXD, $132.29, Buy; Target $162.00)
Updating estimates - Derrick Whitfield
On February 9, 2021, Pioneer provided an update to legacy Parsley production and derivatives positions. Regarding production, Parsley divested assets during Q420, including ~12,000 net acres in the Delaware Basin and total equivalent production of ~1.9 mboepd (~1.4 mbopd of oil). Pioneer expects legacy Parsley production volumes for December 2020 to average 174 mboepd including 104 mbopd of oil, 39 mbpd of NGLs and 186 mmcfpd of gas. Pioneer will include Parsley's production in its reported results after the January 12, 2021 closing date. Of additional importance, Pioneer provided an update on derivative pricing during Q420 and open derivative positions as of February 5, 2021.
Recent Analysts' Price Targets:
Stifel 2/16/2021 $162.00
Raymond J 2/12/2021 $198.00
RBC Cap 2/8/2021 $120.00
S Williams 1/22/2021 $169.00
Updating estimates - Derrick Whitfield
On February 9, 2021, Pioneer provided an update to legacy Parsley production and derivatives positions. Regarding production, Parsley divested assets during Q420, including ~12,000 net acres in the Delaware Basin and total equivalent production of ~1.9 mboepd (~1.4 mbopd of oil). Pioneer expects legacy Parsley production volumes for December 2020 to average 174 mboepd including 104 mbopd of oil, 39 mbpd of NGLs and 186 mmcfpd of gas. Pioneer will include Parsley's production in its reported results after the January 12, 2021 closing date. Of additional importance, Pioneer provided an update on derivative pricing during Q420 and open derivative positions as of February 5, 2021.
Recent Analysts' Price Targets:
Stifel 2/16/2021 $162.00
Raymond J 2/12/2021 $198.00
RBC Cap 2/8/2021 $120.00
S Williams 1/22/2021 $169.00
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group