The company exceeded earnings per share expectations by 6.36% with its $9.36 value per share, according to Benzinga.
An exterior view of Pioneer Natural Resources' headquarters in the Las Colinas development of Irving.Wall Street is in the middle of its second-quarter earnings season, and Irving-based Pioneer Natural Resources is one of the latest to step up to the plate.
The oil and gas company posted a net income of $2.4 billion for the quarter, dramatically more than its $380 million net income for the same time span during 2021. The company bought back $750 million worth of its shares since the end of the first quarter and has its earnings call scheduled for Wednesday.
“Pioneer’s strong balance sheet provides the financial flexibility to return significant free cash flow to investors while still growing annual oil volumes,” chief executive officer Scott Sheffield said in the release.according to BenzingaThe company’s stock took a beating early on in the pandemic and plummeted to less than $80 per share but has since rebounded and surged to $227.91 as of the market close Tuesday.
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