Pioneer Natural remains a Buy at Goldman, citing back-end loaded execution


Pioneer Natural Resources (PXD -2.4%) opens sharply lower after Q4 earnings beat estimates but said production would grow 14%-19% in 2014.

Nevertheless, Goldman Sachs maintains its Buy rating on the shares, noting PXD's 2014 growth is expected to be back-end loaded due to horizontal pads ramping up in the Permian during H2; the firm believe PXD should exceed its 18.5% guidance midpoint through 2016 and maintains its outlook for 20% 2015-17 growth.

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Comments (1)
  • Waldobond
    , contributor
    Comments (17) | Send Message
     
    Great reserves. Great Management. Short term sellers are not seeing the bigger picture. GS is right on this. Buy PXD.
    11 Feb 2014, 11:57 AM Reply Like
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