Pioneer Natural Res (PXD) Valuation Updated - Feb 24

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Pioneer Natural Res (PXD) Valuation Updated - Feb 24

Post by dan_s »

I have updated my forecast model for PXD and posted it to the EPG website. You can view it directly from the home page.

My valuation is now $275.

TipRanks: "In the last 3 months, 13 ranked analysts set 12-month price targets for PXD. The average price target among the analysts is $262.17. The 13 price targets range from $225 to $300."

PXD is a large-cap with a SUPER STONG balance sheet, decades of high quality drilling inventory, but it is content with low single-digit production growth.

Operating Cash Flow should be close to $9 billion this year. < I remember when $1 billion was real money.

None of their production is hedged other than basis swaps.

Based on my forecast, PXD's 2023 fixed + variable dividends should add up to $20.74/share, vs $25.44/share in 2022.

All 6 of the Upstream Companies in our High Yield Income Portfolio are rock-solid. I will finish updating EOG on Saturday morning.
Dan Steffens
Energy Prospectus Group
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