In a report released today, Biju Perincheril from Susquehanna upgraded Pioneer Natural (NYSE: PXD) to Buy, with a price target of $216. The company’s shares closed on Friday at $170.43.
According to TipRanks.com, Perincheril is a 5-star analyst with an average return of 13.8% and a 59.1% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Continental Resources.
Pioneer Natural has an analyst consensus of Strong Buy, with a price target consensus of $242.75.
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Based on Pioneer Natural’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.38 billion and net profit of $66 million. In comparison, last year the company earned revenue of $1.29 billion and had a net profit of $231 million.
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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.
