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Pioneer Natural (PXD) Received its Third Buy in a Row


After Susquehanna and Morgan Stanley gave Pioneer Natural (NYSE: PXD) a Buy rating last month, the company received another Buy, this time from Piper Jaffray. Analyst David Kistler maintained a Buy rating on Pioneer Natural today. The company’s shares opened today at $171.59.

According to TipRanks.com, Kistler is a 4-star analyst with an average return of 10.3% and a 63.0% success rate. Kistler covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Whiting Petroleum Corp, and Continental Resources.

Currently, the analyst consensus on Pioneer Natural is a Strong Buy with an average price target of $238.55, a 39.0% upside from current levels. In a report issued on September 17, Susquehanna also upgraded the stock to Buy with a $216 price target.

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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.