Pioneer Natural Resources (NYSE: PXD) believes its stock is dirt cheap. That's clear from comments by CEO Scott Sheffield on its fourth-quarter earnings call. The oil company is putting money behind that view by repurchasing a meaningful amount of stock.
Here's a closer look at this oil stock's value proposition.
Pioneer Natural Resources has become a big-time dividend stock over the past year. Thanks to the company's fixed-plus-variable dividend framework, it paid out $26 per share in dividends last year, driven by higher oil prices. That gave it one of the highest dividend yields in the S&P 500 at around 11%.
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This Energy Company Thinks Its Stock Is Extremely Cheap