PXD: Pioneer Natural Resources Company Instablogs

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Monday, June 17, 9:49 AM Pioneer Natural Resources (PXD +3.6%) lifts higher at the open as BAML raises its price target for the shares to $200 from $165, saying it continues to be struck by the sheer scale of PXD's resource potential. Notable Calls' take: FBR got the ball rolling with its $220 target a month ago, but this is the first tier-1 blessing. 4 Comments [Energy, Quick Ideas, On the Move]
Thursday, June 6, 7:57 AM India's Reliance Industries (RLNIY.OB) plans to invest 1.5T rupees ($26.4B) in its businesses over three years, Chairman Mukesh Ambani says, adding its U.S. shale gas activities had doubled its revenues in the past year and it would forge long-term partnerships to source crude for its refineries. Reliance signed JV energy deals in 2010 with ATLS, PXD and CRZO. 1 Comment [Energy]
Wednesday, May 29, 5:15 PM BAML analysts lower their expectations for Brent crude prices on weakening demand in China and Europe, rising supplies and higher inventories - "a cocktail for lower prices." But demand this summer should rise, prompting the firm to suggest a list of six "stocks for the summer" to own: APC, OXY, MRO, PXD, DVN, CHK. 1 Comment [Energy, Quick Ideas]
Wednesday, May 22, 12:55 PM Pioneer Natural Resources (PXD +5.4%) surges after at least two firms - UBS and RBC - raise their price targets after encouraging results from PXD's first horizontal Wolfcamp shale well. The 24-hour initial production rate of 1,572 boe/day is considered very solid and comparable to the Hutt well in its northern acreage, which yielded an initial rate of 1,693 boe/day. Comment! [Energy, On the Move]
Tuesday, May 21, 4:58 PM Pioneer Natural Resources (PXD) says initial production results for its First Horizontal Wolfcamp Shale well in Texas showed a 24-hour peak natural flow rate of 1,572 boe/day. PXD says the results demonstrate the prospectivity of its 900K-acre Spraberry/Wolfcamp leasehold, which holds an estimated net resource potential of more than 4.6B boe. Comment! [Energy]
Thursday, May 16, 9:59 AM T. Boone Pickens added nearly 125K shares in Apache (APA) and more than 500K shares in Goodrich Petroleum (GDP) to his energy fund during Q1. He bought new stakes in MPC, PSX and HK, and sold positions in SWC, RRC and RIG. The fund’s top holding Pioneer Natural Resources (PXD); Pickens added ~43K shares. 1 Comment [Energy]
Tuesday, May 7, 7:16 PM Pioneer Southwest Energy Partners (PSE) +19.4% AH after Pioneer Natural Resources (PXD) proposes to buy all outstanding shares it doesn't already own through a stock-for-unit exchange that values PSE at ~$1.1B. PXD currently owns ~52.4% of the 35.7M-plus outstanding common units of the limited partnership. Comment! [Energy, M&A, On the Move]
Monday, May 6, 10:31 AM Pioneer Natural Resources' (PXD +2.7%) target price is raised to $225 from $125 at FBR Capital, which believes planned drilling activity in the next 12-18 months could significantly de-risk a substantial portion of PXD's Midland Basin acreage and raise valuation. The firm's analysis of Permian geology leads it to conclude the risk/reward is significantly skewed toward a favorable outcome. Comment! [Energy, Quick Ideas, On the Move]
Thursday, May 2, 3:25 PM Pioneer Natural Resources (PXD +6.2%) powers higher after reporting double-digit Q1 production gains and says it is accelerating drilling faster than planned in the eastern half of the Permian Basin. Derivatives losses took a $42M bite out of profits, but are seen as immaterial to PXD's overall health. "Costs are under control, and these guys are executing on their plan," an RBC analyst says. Comment! [Energy, On the Move]
Wednesday, May 1, 4:20 PM Pioneer Natural Resources (PXD): Q1 EPS of $1.02 beats by $0.03. Revenue of $831.5M beats by $7.85M. (PR) Comment! [Earnings, Breaking News]
Wednesday, May 1, 12:10 AM Notable earnings after Wednesday’ s close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP Comment! [Earnings]
Tuesday, April 30, 5:35 PM Notable earnings after Wednesday’ s close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP 2 Comments [Earnings]
Tuesday, April 16, 11:46 AM Pioneer Natural Resources (PXD +1.8%) is upgraded to Hold from Sell at Canaccord, which says the stock now reflects a reasonable outlook concerning the capital productivity of blended horizontal/vertical development in the Spraberry field. The firm sees 2013 production growth of ~16%, assuming the capital intensity of Spraberry development is comparable. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, March 27, 2:07 PM Pioneer Natural Resources (PXD) is named a new Top Pick at SunTrust, which says shares have underperformed on concerns about financing needs. The firm believes PXD's revolver capacity and net debt to EBITDA through 2014 will remain unchanged and views its Midland Basin assets as undervalued. Topeka Capital starts coverage at Buy, seeing PXD as a takeout target. Comment! [Energy, Quick Ideas]
Tuesday, March 26, 5:45 PM After-hours top gainers, as of 5:15 p.m.: MXWL +9%. SAI +4%. OWW +3%. SPLK +3%. SUPN +3%.
After-hours top losers: LNDC -8%. ACMP -4%. EOG -4%. PXD -3%. LOGM -3%. 1 Comment [On the Move]
Tuesday, March 5, 9:11 AM Fitch Ratings upgrades Pioneer Natural Resources (PXD) a notch to an investment grade BBB- from BB+ with a stable outlook, noting the company's long-lived onshore reserve base, consistent production growth, and valuable leasehold acreage positions in key oil and liquids basins, the Permian and the Eagle Ford. Comment! [Energy]

PXD Pioneer Natural Resources Company

PXD

Pioneer Natural Resources Company