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Upgrade Alert for Pioneer Natural Resources (PXD)

By Nick Russo

Pioneer Natural Resources (NYSE:PXD) was upgraded from Equal Weight to Overweight at Barclays Capital today. The stock closed yesterday at $159.58 on volume of 1.8 million shares, below average daily volume of 2.2 million.

Over the past year, Pioneer Natural Resources has traded in a range of $103.50 to $173.59 and closed yesterday at $159.58, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 0.5%.

Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States, South Africa, and Tunisia.

Potential upside of 3.5% exists for Pioneer Natural Resources, based on a current level of $159.58 and analysts' average consensus price target of $165.18. The stock should find initial support at its 50-day moving average (MA) of $142.85 and further support at its 200-day MA of $131.30.

SmarTrend is monitoring the recent change of momentum in Pioneer Natural Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Pioneer Natural Resources in search of a potential trend change.

Keywords: analyst upgrades/downgrades pioneer natural resources

Ticker(s): PXD