Dr. Paul Nunzio DeSantis, Pharm.D
Event-driven, research analyst, hedge fund analyst, biotech

Pioneer Natural Resources: A Deep Dive Suggests Possible M&A Upside

Pioneer Natural Resources is a Buyout Target: Doing a Deep Dive into the Net Asset Value

Price Objective 2014/2015: $225-$250/304-$338

Trade Recommendation: BUY (M&A Target)

  • Long-Term Core Growth Holding with Optionality (Scale into Positions)

4Q13 Earnings Review

Pioneer Natural Resources (NYSE:PXD) reported earnings Tuesday, February 10th, for FY2013, with consensus estimates at $0.98 EPS, Pioneer reported a fourth quarter net loss attributable to common stockholders of $1.4 billion, or $9.82 per diluted share. Without the effect of non-cash derivative mark-to-market losses and other unusual non-cash items, adjusted income for the fourth quarter was $140 million after tax, or $1.00 per diluted share.

Summary of 4Q13 Results:

    Growing oil production from continuing operations by 22% in...
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