Jim Cramer Urges Reevaluation Following Pioneer's $60B Exxon Deal: 'I Will Sell Every Share...'
Portfolio Pulse from Benzinga Neuro
Jim Cramer plans to sell his entire stake in Pioneer Natural Resources (PXD) following its takeover by Exxon Mobil (XOM). The all-stock deal values Pioneer at $59.5 billion, 18% above its closing stock price on Oct. 5. The deal is expected to conclude in the first half of 2024. Cramer's decision is based on his regard for his Charitable Trust's performance. Meanwhile, outgoing CEO of Pioneer plans to retain his Exxon shares, citing the company's impressive dividend.
October 12, 2023 | 7:52 am
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NEUTRAL IMPACT
Exxon Mobil's stock may see mixed reactions following its takeover of Pioneer Natural Resources. While some investors may view the acquisition positively, others, like Jim Cramer, plan to sell their Pioneer shares.
Exxon Mobil's stock may see mixed reactions following its takeover of Pioneer Natural Resources. While the acquisition could be seen as a positive move for Exxon, Jim Cramer's decision to sell his Pioneer shares could potentially lead to some uncertainty among investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Pioneer Natural Resources' stock may experience selling pressure as Jim Cramer plans to sell his entire stake following the company's takeover by Exxon Mobil.
Jim Cramer's decision to sell his entire stake in Pioneer Natural Resources following its takeover by Exxon Mobil could potentially lead to selling pressure on the stock. This is especially true if other investors follow his lead.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100