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Pioneer Natural Resources (PXD) Pops on Buy Rating, Bullish Shale Outlook

By  +Follow October 16, 2013 7:35AM
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Pioneer Natural Resources ($PXD), the $27.5 billion independent oil & gas producer based in Irving, Texas, saw shares trading much higher in Wednesday's action.

Shares for Prioneer spiked over 7 percent in midday trading to $213.75, after the company received a “buy” rating from analysts at Raymond James. It is not hard to see why, either, as the company has presence in some of the US’s most promising shale plays, the Spraberry/Wolfcamp shale located near Midland, Texas.

Pioneer estimates that the Spraberry field contains some 50 billion barrels of oil equivalent, which would make it the largest known shale reserve not only in the US, but also one of the largest in the world. If the 50 billion barrel estimates proves out, Spraberry would be nearly twice as large as the much vaunted Eagle Ford shale, whose reserves are estimated at just over 26 billion barrels.

Much of this has to do with the fact that the Spraberry/Wolfcamp concern has what is called in industry parlance “stacked pay potential,” which simply means that the oil and gas hidden underneath the earth is stacked in various layers of shale. This makes for very nice drilling conditions, as one vertical well can be applied to several formations at once.

While it is common practice for oil companies to exaggerate numbers such as the amount of potential reserves they believe they will unlock from a particular play, other independents who are working in the region have also been giving similar estimates of late, making it more likely that Spraberry could likely become one of the most coveted plays, surpassing not only the Eagle Ford shale, but also others such as the Bakken and Marcellus shales.

Independent drillers and producers have so far been the The spike for Pioneer brought shares of other independents along with it. Diamondback Energy (FANG) was up 6.75 percent to $50, Clayton Williams Energy  (CWEI) gained 5.70 percent to $66.50, and Vaalco Energy (EGY) has all gained over five percent heading towards the closing bell.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for PXD
Trending Articles SA
28 Jan 15 07:00:01
Are Exxon, Chevron And Shell Low Cost Oil Producers? http://t.co/vnHblG5kW1 $BP $CLR $CVX $CXO $EOG $PBR $PXD $RDS.A $XOM
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28 Jan 15 06:50:39
Pioneer Natural Resources Given BBB Credit Rating $PXD http://t.co/i9AyE5e9SD
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28 Jan 15 06:29:06
Are Exxon, Chevron And Shell Low Cost Oil Producers? http://t.co/0eZkFevFTt $BP $CLR $CVX $CXO $EOG $PBR $PXD $RDS.A $XOM”
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28 Jan 15 06:28:15
Are Exxon, Chevron And Shell Low Cost Oil Producers? http://t.co/iG6ADRwUOC $BP $CLR $CVX $CXO $EOG $PBR $PXD $RDS.A $XOM
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28 Jan 15 04:31:04
$PXD: Bullish Movements - Pioneer Natural Resources (PXD), Total (TOT ...: http://t.co/u8xa1zlD2d
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28 Jan 15 02:26:02
$PXD: Short Interest of Pioneer Natural Resources Increases by 7.7%: http://t.co/UuI5IBqPOp
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28 Jan 15 01:36:05
Weekly Investment Analysts’ Ratings Updates for Pioneer Natural Resources $PXD http://t.co/skjWLuTXIn
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28 Jan 15 01:26:47
Weekly Investment Analysts’ Ratings Updates for Pioneer Natural Resources $PXD http://t.co/RXN0FMc4Jm
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28 Jan 15 00:42:25
Our Penny Stock Alert On $QLTS Has Gained 34.62% In The Past 2 Days! Special Update: http://t.co/SK1yaqFkM1 $JNPR $PXD $NVE
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27 Jan 15 23:02:02
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Our Penny Stock Alert On $QLTS Has Gained 34.62% In The Past 2 Days! Special Update: http://t.co/MNFk4FhSe1 $JNPR $PXD $NVE
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27 Jan 15 20:10:35
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27 Jan 15 16:00:30
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/yQwzgQ7fmA $JNPR $PXD $NVE
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27 Jan 15 12:54:10
Pioneer Natural Resources $PXD Trading Near $158.48 Resistance Level ( http://t.co/szi0vebcjQ )
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27 Jan 15 12:18:25
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/wMEn6i1tkM $JNPR $PXD $NVE
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27 Jan 15 10:02:02
Pioneer Natural Resources Annual Valuation - 2015 $PXD - #investing http://t.co/GJgLuJZY0h
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27 Jan 15 09:41:05
This Guy Turned $100 into over $10,000 In Just 30 Days! http://t.co/vezCDY95do .. $JNPR $PXD $NVE
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27 Jan 15 09:27:57
$PXD has 6 analyst ratings in the last 7 days and 66% are positive. Median target: $170 https://t.co/tCO0dDcOyD #PXD
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27 Jan 15 09:06:53
$XOP $XLE Like how so many pundits very bearish on energy still, plenty of room for sentiment shift & money rotation. $PXD $CXO $XEC $GPOR
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27 Jan 15 08:50:17
Relative strength scan: $PXD $CXO $BP $COP $SU $GPRO
parkland
27 Jan 15 07:40:47
@jimcramer @carlquintanilla @GuyAdami Why are $PXD $CXO n $EOG all rallying @BobPisani ?
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27 Jan 15 07:39:07
@terranovajoe @carlquintanilla @ScottWapnerCNBC @ReformedBroker Don't look at $CXO $EOG $PXD.. GREEN!!!!
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27 Jan 15 07:28:18
Nice runs up to WK Res then PB: oil+gas plays $WMB $PXD $CPE etc + momos $TSLA $FEYE $SOHU $AMZN $Z.
parkland
27 Jan 15 06:16:03
@RedDogT3 @carlquintanilla @jimcramer @SquawkStreet another great day to BTD on $PXD $CXO $EOG.. All up for yr. still
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27 Jan 15 06:02:08
$PXD Pioneer Natural Resources: A Survivor Amid The Oil Onslaught http://t.co/klQQfiGHoc
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27 Jan 15 05:21:04
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27 Jan 15 05:02:06
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27 Jan 15 02:21:34
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27 Jan 15 00:11:23
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/wMEn6i1tkM $JNPR $PXD $NVE
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27 Jan 15 00:08:56
RT @SharePlanner: Swing Trading Watch-List: $AEO $ECA $LLTC $LVLT $PXD http://t.co/U8C3pLrrKH
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27 Jan 15 00:04:27
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26 Jan 15 22:10:49
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26 Jan 15 20:32:59
Swing Trading Watch-List: $AEO $ECA $LLTC $LVLT $PXD http://t.co/U8C3pLrrKH
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26 Jan 15 19:15:37
$PXD 10-Day / 21-Day Bullish Moving Average Cross
Mike Valletutti, CTA
26 Jan 15 18:58:07
@Bigmoves5 no, just looked at the charts. $PXD looks better.
Christian
26 Jan 15 18:56:00
@marketmodel Have looked at or own any $RRC or $PXD?
Kym L
26 Jan 15 16:50:53
$PXD at bottom of gap here
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26 Jan 15 16:36:40
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26 Jan 15 13:31:31
$PXD has 4 analyst ratings in the last 7 days. Median target: $170 (10% upside). View here: https://t.co/tCO0dDcOyD #PXD
parkland
26 Jan 15 13:00:04
@GuyAdami @Kelly_Evans @ScottWapnerCNBC @BillGriffeth $BHI $CXO $PXD $CVX.. all seem to have bottomed..
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26 Jan 15 12:47:00
Here’s Why Pioneer Natural Resources’ Stock Slipped 15.7% in 2014 ( $PXD) http://t.co/8y6q34wnfV
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26 Jan 15 12:16:58
@MLP_Protocol @DividendMaster @Jason_Buck yes and $PSE by $PXD.. but they aren't in position to acquire one another I should have said..
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26 Jan 15 10:36:01
Merrill Lynch's Large Cap Energy Stocks to Buy $XOM $COP $OXY $HES $PXD - 24/7 Wall St. http://t.co/xUcMrKtEv8 via @247WallSt
parkland
26 Jan 15 10:31:02
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26 Jan 15 10:12:15
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26 Jan 15 08:32:03
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26 Jan 15 03:26:04
$PXD: Investors Book Profit on the Price Strength of Pioneer Natural ...: http://t.co/AKOsLzQWqy
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25 Jan 15 18:05:15
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By  +Follow October 16, 2013 7:35AM
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