XOM - Pioneer Natural Resources: Digging Into Expectations As Merger Looks Set To Proceed
2024-02-18 09:00:00 ET
Summary
- Pioneer Natural Resources is expected to announce financial results for its final quarter before the merger with Exxon Mobil.
- The stock prices of both companies have fallen due to a weakening of oil and gas prices.
- The probability of the merger failing is low, but investors should monitor the company's performance during the quarter to assess the success of the merger decision.
Before the market opens on February 22 nd , the management team at oil and gas exploration and production giant Pioneer Natural Resources ( PXD ) is expected to announce financial results covering the final quarter of the company's 2023 fiscal year. Depending on how things work out regarding the merger between it and energy behemoth Exxon Mobil ( XOM ), this might be the final quarter that the company reports as a standalone public enterprise. Since the announcement of the merger, shares of the company have fallen short of what the implied buyout price has been. And I don't just mean the typical spread that you see between where shares are and where they should be if the merger were to be completed immediately. Rather, the stock has pulled back in general, alongside shares of Exxon Mobil....
Pioneer Natural Resources: Digging Into Expectations As Merger Looks Set To Proceed