Big Oil's refusal to boost production has nothing to do with greed — here's the real reason [MSNBC.com]
Pioneer Natural Resources Company (PXD)
Last pioneer natural resources company earnings: 2/19 04:07 pm
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Source: MSNBC.com
We need more oil, there is no question about it — crude prices are up because supply can't keep up with current demand. But we likely won't get more oil out of U.S. producers anytime soon. As noted in Jim Cramer's " Morning Thoughts" and our "" for Club members, Pioneer Natural Resources (PXD) CEO Scott Sheffield declined the Biden Administration's request for oil companies to increase crude production. Pioneer is only going to grow at 5% per year and oil will stay over $100 per barrel for a long time, Sheffield told investors at a JPMorgan conference last week. He said he was a firm believer that $100 to $120 oil is not going to cause demand destruction, adding that inventory will remain low over the next five years. The initial reaction to the stance held by Pioneer — and many others in the industry — may cause outrage. The view is that greedy oil companies want to maximize profits at the expense of hard-working Americans. After all, the national average for a gallon of gasoline top
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PXD
News
- Pioneer Natural Resources (NYSE: PXD) had its price target raised by analysts at Susquehanna from $246.00 to $278.00. They now have a "neutral" rating on the stock.MarketBeat
- Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left? [Yahoo! Finance]Yahoo! Finance
- Pioneer Natural Resources (NYSE: PXD) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio [Yahoo! Finance]Yahoo! Finance
- Pioneer Natural Resources Announces First Quarter 2024 Earnings News Release DateBusiness Wire
PXD
Earnings
- 2/22/24 - Miss
PXD
Sec Filings
- 4/1/24 - Form 4
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- PXD's page on the SEC website