Pioneer Natural price target raised to $245 from $236 at Roth MKM

Roth MKM analyst Leo Mariani raised the firm’s price target on Pioneer Natural to $245 from $236 and keeps a Buy rating on the shares following quarterly results. The firm notes that the pure-play Permian E&P has the lowest cost and longest inventory life in the Permian Basin, a very high cash dividend, solid growth rates, and a pristine balance sheet.