Analysts Offer Insights on Materials Companies: Pioneer Natural (NYSE: PXD) and Parsley Energy (NYSE: PE)

By Jason Carr

Analysts have been eager to weigh in on the Materials sector with new ratings on Pioneer Natural (PXDResearch Report) and Parsley Energy (PEResearch Report).

Pioneer Natural (PXD)

In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Pioneer Natural, with a price target of $167.00. The company’s shares closed last Monday at $124.66, close to its 52-week low of $114.79.

According to TipRanks.com, McDermott is a 3-star analyst with an average return of 3.3% and a 42.0% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Cheniere Energy Partners LP, Occidental Petroleum, and Cheniere Energy Inc.

Currently, the analyst consensus on Pioneer Natural is a Strong Buy with an average price target of $180.88, which is a 45.2% upside from current levels. In a report issued on September 30, Robert W. Baird also reiterated a Buy rating on the stock with a $157.00 price target.

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Parsley Energy (PE)

In a report released today, Drew Venker from Morgan Stanley maintained a Hold rating on Parsley Energy, with a price target of $21.00. The company’s shares closed last Monday at $16.40, close to its 52-week low of $13.72.

According to TipRanks.com, Venker has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.9% and a 40.5% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Range Resources Corp.

Currently, the analyst consensus on Parsley Energy is a Strong Buy with an average price target of $24.00.

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