Seeking Alpha

Pioneer Natural downgraded by price target raised at Global Hunter

  • Pioneer Natural Resources (PXD -0.7%) is downgraded to Accumulate from Buy on valuation at Global Hunter, but the firm raises its target price to $260 from $220.
  • Despite the lower rating, Hunter says it is still "groupies who remain mesmerized" by the potential of PXD's Permian peer group-leading inventory level, core-of-the-core position, and logistical prowess, and is actually increasing its NAV-based price target as confidence in PXD's asset base continues to increase.
  • Oppenheimer says PXD shares are expensive but for good reasons, driven by PXD's large acreage position and strong growth potential in the Permian Basin, one of the most attractive resource plays in North America; the firm maintains its Perform rating (Briefing.com).
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Comments (3)
  • chammond63
    , contributor
    Comments (72) | Send Message
     
    That crazy guy who rolls up his sleeves on CNBC every night won't like this
    17 Jun 2014, 11:07 AM Reply Like
  • User 353732
    , contributor
    Comments (4966) | Send Message
     
    If there are good reasons for PXD's high valuation then the stock cannot be expensive; only if there are bad reasons(big Money manipulation; the madness of crowds; unrealistic management representations) can the stock be "expensive"
    17 Jun 2014, 11:57 AM Reply Like
  • KNUCKLE HEAD
    , contributor
    Comments (4) | Send Message
     
    LONGTERM IS MADE UP OF MANY SHORT TERMS. THIS ASSESSMENT MAY BE RIGHT IN THE SHORT TERM, VERY SHORT TERM, BUT THIS IS AN INCREDIBLY WAFFLING CALL WITH NO FACTUAL SUPORT. HIS CONSTITUENCY MUST BE THE WONKS WHO RIG ALGORITHMIC TRADING PROGRAMS. LONG TERM YOU CAN DIE RICH OWNING PXD.
    17 Jun 2014, 08:56 PM Reply Like
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