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Pioneer Natural price target lowered to $229 from $243 at Truist
The Fly

Pioneer Natural price target lowered to $229 from $243 at Truist

Truist analyst Neal Dingmann lowered the firm’s price target on Pioneer Natural to $229 from $243 and keeps a Hold rating on the shares. The company’s free cash flow will likely sequentially fall this year due to lower oil prices and incremental inflation, though the firm still anticipates "strong shareholder return" given the company’s propensity to pay out over 90% of free cash flow, the analyst tells investors in a research note. The firm adds however that it would give preference to a more active plan that would boost future free cash flows, taking the yield higher than its currently estimated 12%.

Published first on TheFly

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