KeyBanc analyst Tim Rezvan downgraded Pioneer Natural to Sector Weight from Overweight without a price target. The shares "appear priced for perfection" and the size of the company’s variable dividend yield is now less differentiated relative to peers, Rezvan tells investors in a research note. He does not see a good setup for further multiple expansion versus peers, as he awaits results of adjustments to the full-field development strategy that won’t be known for another 12-18 months.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on PXD:
- Oil Trading Daily: WTI Crude Closes Higher as Natural Gas Plunges
- Pioneer Natural price target lowered to $260 from $290 at KeyBanc
- Pioneer Natural price target lowered to $277 from $300 at Barclays
- Top-Rated Analyst Vincent Lovaglio Recommends Buying These 2 Stocks
- Do You Seek High Yield? Catch These Stocks Before November Ends