BofA/Merrill Lynch Raises Price Target on Pioneer Natural Resources (PXD)

BofA/Merrill Lynch Raises Price Target on Pioneer Natural Resources (PXD)

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Bank of America/Merrill Lynch reported on Monday that it has boosted its price target on oil and gas company, Pioneer Natural Resources (PXD).

The firm has raised its price target on PXD to $200, suggesting a 27% increase from the stock’s current price of $146.62.

Analysts have improved the company’s price target due to the potential of the resources at the 900,000 acre Permian Midland Basin.

Pioneer Natural Resources shares were mostly flat during premarket trading Monday. The stock is up 38% YTD.

The Bottom Line
Shares of Pioneer Natural Resources (PXD) have a 0.11% yield, based on Friday’s closing price of $146.62.

Pioneer Natural Resources (PXD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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