Canaccord Genuity Maintains a 'Buy' on Pioneer Natural Resources (PXD); Operational Momentum Remains Strong
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Price: $269.62 --0%
Rating Summary:
28 Buy, 20 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
Rating Summary:
28 Buy, 20 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
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Canaccord Genuity maintains a 'Buy' on Pioneer Natural Resources (NYSE: PXD) price target of $117.00.
Analyst, John Gerdes, said, "We remain buyers of PXD as operational momentum remains strong in the Eagle Ford Shale and Permian Spraberry Field. We are also fans of PXD’s hedge book, which is one of the strongest in our coverage portfolio with ~60% of production hedged in ‘12 at attractive prices (~$80 floor on oil, ~$5.25 floor on gas). Consequently, the company’s cash flow is relatively safe compared to peers, which should benefit the stock if macro uncertainty persists. Additionally, we remain comfortable with our 30% growth expectation in ‘12, which is markedly above the company’s 20%+ guidance and should be the driving force behind share price outperformance."
For an analyst ratings summary and ratings history on Pioneer Natural Resources click here. For more ratings news on Pioneer Natural Resources click here.
Shares of Pioneer Natural Resources closed at $97.63 yesterday.
Analyst, John Gerdes, said, "We remain buyers of PXD as operational momentum remains strong in the Eagle Ford Shale and Permian Spraberry Field. We are also fans of PXD’s hedge book, which is one of the strongest in our coverage portfolio with ~60% of production hedged in ‘12 at attractive prices (~$80 floor on oil, ~$5.25 floor on gas). Consequently, the company’s cash flow is relatively safe compared to peers, which should benefit the stock if macro uncertainty persists. Additionally, we remain comfortable with our 30% growth expectation in ‘12, which is markedly above the company’s 20%+ guidance and should be the driving force behind share price outperformance."
For an analyst ratings summary and ratings history on Pioneer Natural Resources click here. For more ratings news on Pioneer Natural Resources click here.
Shares of Pioneer Natural Resources closed at $97.63 yesterday.
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