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Morgan Stanley Sticks to Their Buy Rating for Pioneer Natural (PXD)


In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Pioneer Natural (NYSE: PXD), with a price target of $234. The company’s shares closed yesterday at $171.66.

According to TipRanks.com, McDermott is a 2-star analyst with an average return of 1.7% and a 31.8% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Range Resources Corp, Gulfport Energy Corp, and Occidental Petroleum.

Pioneer Natural has an analyst consensus of Strong Buy, with a price target consensus of $238.40, implying a 38.9% upside from current levels. In a report issued on September 28, Piper Jaffray also maintained a Buy rating on the stock.

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The company has a one-year high of $213.40 and a one-year low of $140.31. Currently, Pioneer Natural has an average volume of 1.39M.

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Pioneer Natural Resources Co. engages in the provision of oil and gas exploration. It focuses in the operation of Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded in August 1997 and is headquartered in Irving, TX.