Capital One downgraded Pioneer Natural (PXD) to Equalweight from Overweight with a $253 price target after the company agreed to be acquired by Exxon Mobil (XOM) in an all-stock transaction valued at $59.5B, or $253 per share, based on ExxonMobil’s closing price on October 5.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PXD:
- Pioneer Stock (NYSE:PXD): Get Exposure to Shale and an Energy Whale
- Pioneer Deal Sends Exxon Mobil (NYSE:XOM) Sliding
- Unusually active option classes on open October 11th
- Exxon Mobil (NYSE:XOM) Confirms Pioneer Acquisition at $59.5B
- Exxon Mobil, Pioneer Natural deal expected to be ‘accretive immediately’