The Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates and calcium chloride, as well as vinyls, comprising vinyl chloride monomer, polyvinyl chloride and ethylene.
Shareholders receive a 1.23% dividend. The Truist Financial price target on the Buy-rated shares is $85. The $71.68 consensus target is closer to Friday’s $59.13 closing print for Occidental Petroleum stock.
Pioneer Natural Resources
Many Wall Street analysts love this stock as a pure crude oil play, and the company also employs a variable dividend strategy. Pioneer Natural Resources Co. (NYSE: PXD) operates as an independent oil and gas exploration and production company in the United States.
The company explores for, develops and produces oil, NGLs and natural gas. It has operations in the Midland Basin in West Texas. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs and 462 billion cubic feet of gas, and it owned interests in 11 gas processing plants.
Its production services are supported by 100 well-servicing rigs, more than 100 cased-hole, open-hole and offshore wireline units, and a range of advanced coiled tubing units.
The company is a huge player in the Permian Basin and the Eagle Ford in Texas, and it owns more than 20,000 locations in the world’s second-largest oil reservoir in the Midland Basin. With a stellar balance sheet, the company is poised to remain a top player in the Permian, as it expects to deliver solid production growth going forward.
Various media sources have said the company may still be in ongoing discussions with Exxon for a possible purchase or merger.
Pioneer Natural Resources stock investors receive an 11.22% dividend, which again, like the others with variable dividends, could be lower this year and may vary from quarter to quarter. The Piper Sandler has set its target price at $319, while the consensus target is just $254.54. On Friday, the closing share price was $208.94.
While it remains to be seen if Exxon does make the huge play to acquire Pioneer Natural Resources, it is a good bet that if it does, the competition will start thinking about doing the same thing. That is why we stayed with U.S. companies. Over the past 75 years, there have been numerous big oil deals, and with prices on the move higher, and demand from China, India and other emerging markets expected to grow in the coming years, more deals in the energy world could be on tap.
Originally published at 24/7 Wall St.
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