Pioneer Natural Resources Company (NYSE:PXD) shares began Thursday on the minus side. The company today reported financial and operating results for the quarter and year ended December 31, 2023. Pioneer reported fourth-quarter net income attributable to common shareholders of $1.3 billion, or $5.28 per diluted share. These results include the effects of noncash mark-to-market adjustments and certain other unusual items. Excluding these items, non-GAAP adjusted income for the fourth quarter was $1.3 billion, or $5.26 per diluted share.
Cash flow from operating activities for the fourth quarter was $2.3 billion. For the year ended December 31, 2023, the Company reported net income attributable to common stockholders of $4.9 billion, or $20.21 per diluted share. Cash flow from operating activities for the year was $8.4 billion.
Pioneer also said full-year 2023 oil production averaged 372 thousand barrels of oil per day (MBOPD), at the top end of original 2023 guidance and in the upper half of the most recently updated 2023 guidance.
Thursday’s news release added Pioneer maintains a strong balance sheet, with net debt of $4.6 billion as of December 31, 2023. The Company had $2.2 billion of liquidity, comprised of $240 million of cash on hand and a $2.0 billion unsecured credit facility (undrawn) as of December 31, 2023.
PXD shares $1.03 to $232.67.
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