Here's Why Pioneer Natural Resources Stock Is Getting Pummeled Today

Here's Why Pioneer Natural Resources Stock Is Getting Pummeled Today

Shares of Pioneer Natural Resources (NYSE: PXD) are getting pummeled today, down 11.4% as of 11:49 a.m. EDT, after the shale driller reported second-quarter results.

Those results were actually quite good. Thanks to continued strong well performance, production came in at the high end of Pioneer's guidance range. Because of that, and falling costs, the company earned an adjusted $38 million, or $0.21 per share, which was $0.09 per share ahead of expectations.

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Source: Fool.com