Pioneer Natural Resources (NYSE: PXD) is becoming a prodigious passive income producer. The oil company has significantly increased its quarterly dividend over the years. Meanwhile, it's complimenting that growing payout with oil-fueled variable dividend payments. With crude prices and its cash flow soaring, the company is paying a gusher in dividends these days.
Pioneer Natural Resources recently reported its first-quarter results. The oil company produced an average of 638,000 barrels of oil equivalent per day during the quarter, which was in the upper half of its guidance range. That enabled it to capture surging crude prices in the quarter. It realized an average of $94.60 per barrel of oil to go along with strong pricing for natural gas and natural gas liquids (NGLs). That enabled the company to generate enough cash to cover its capital expenditures with $2.3 billion to spare.
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Fueled by Higher Crude Prices, This Oil Stock Boosted its Dividend Yield to 13%