Pioneer Natural Resources Co (PXD) released its first quarter results on Wednesday, May 5, 2021. The company reported net earnings of -$0.33 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 119 percent compared to the same period a year ago.
Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas. Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas.
Pioneer Natural Resources' revenue decreased 14 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 50.2% for the first quarter compared to the same period in the previous year, and operating margins increased to 28.79% over the same period. Net earnings for past trailing twelve months were $-486.0 million, down 170% from the prior year.
Moving on to the balance sheet, Pioneer Natural Resources' cash levels dropped 16% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 20.89% this past year. The current ratio for Pioneer Natural Resources now stands at 0.79. The company decreased shares outstanding by 0.65%.
Shares of PXD are currently trading around $164.34. In terms of valuation, the stock is trading at a price to book ratio of 1.9.