Analysts Are Bullish on Top Materials Stocks: Pioneer Natural (PXD), Diamondback (FANG)

By Ryan Adsit

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Pioneer Natural (PXDResearch Report) and Diamondback (FANGResearch Report) with bullish sentiments.

Pioneer Natural (PXD)

Morgan Stanley analyst Devin McDermott maintained a Buy rating on Pioneer Natural today and set a price target of $176. The company’s shares closed last Monday at $128.36.

According to TipRanks.com, McDermott is a 4-star analyst with an average return of 5.9% and a 47.9% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Oasis Petroleum Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pioneer Natural with a $194.50 average price target, which is a 54.9% upside from current levels. In a report issued on August 7, Williams Capital also reiterated a Buy rating on the stock with a $217 price target.

See today’s analyst top recommended stocks >>

Diamondback (FANG)

In a report released today, Drew Venker from Morgan Stanley maintained a Buy rating on Diamondback, with a price target of $140. The company’s shares closed last Monday at $99.94.

According to TipRanks.com, Venker is ranked 0 out of 5 stars with an average return of -15.1% and a 39.3% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Gulfport Energy Corp.

Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $150.64, representing a 55.3% upside. In a report issued on July 30, Williams Capital also reiterated a Buy rating on the stock with a $165 price target.

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