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

|About: Pioneer Natural Resources C... (PXD)|By:, SA News Editor

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.