Pioneer Southwest Energy (PSE -2.6%) is cut to Sell from Neutral at UBS, which notes PSE's...

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

Pioneer Southwest Energy (PSE -2.6%) is cut to Sell from Neutral at UBS, which notes PSE's portfolio of long-lived slow-decline assets, an oil-directed drilling program, and balanced commodity exposure. But with units up ~11% YTD, PSE's relatively weak hedge profile, tight coverage ratio, limited distribution growth history, and 8.3% yield leaves the firm cautious at current levels.