Pioneer beats on earnings, announces succession, tweaks dividend — a mix pressuring the oil stock

Scott Sheffield, CEO of Pioneer Natural Resources.

Adam Jeffery | CNBC

Pioneer Natural Resources (PXD) posted solid first-quarter results after the bell Wednesday, thanks to higher-than-expected energy production. Free cash flow, however, was a slight miss. It was also a bittersweet evening as CEO Scott Sheffield said he will retire at the end of the year after more than two decades collectively at the helm.



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