XOM - 3 Things You Need to Know if You Buy Pioneer Natural Resources Today
2023-12-09 06:47:00 ET
Pioneer Natural Resources (NYSE: PXD) recently reported third-quarter earnings. They were pretty good, but that was to be expected because oil prices had been heading higher in the quarter. However, there's something else driving the stock price right now. Here are three things investors need to know before buying Pioneer today.
The first and most important thing to know about this energy producer is that integrated energy giant ExxonMobil (NYSE: XOM) is buying it. The deal is an all-stock transaction, which is important. When the acquisition was announced, the transaction was valued at $64.5 billion, including the assumption of debt. The key factor for investors right now, though, is that Pioneer shareholders will receive 2.3234 shares of Exxon stock for every share of Pioneer that they own.
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3 Things You Need to Know if You Buy Pioneer Natural Resources Today