NEW YORK (TheStreet) -- Shares of Pioneer Natural Resources (PXD) - Get Report are rising 3.09% to $155.29 on Thursday morning after the oil and gas company posted a smaller-than-anticipated loss for the 2016 second quarter.

After yesterday's market close, the Irving, TX-based company reported an adjusted loss of 22 cents per diluted share, while analysts were expecting a loss of 34 cents per share.

Revenue came in at $786 million, lower than analysts' forecasts of $808.6 million.

For the third quarter, Pioneer Natural sees production between 232 and 237 MBOEPD (thousand barrels of oil equivalents per day).

Susquehanna raised its price target to $215 from $200 and maintained its "positive" rating on shares this morning following the results. The firm also highlighted continuing well productivity, efficiency gains and cost reduction efforts, the Fly noted.

Citi also upped its price target to $190 from $180 and maintained its "buy" rating on the stock after the quarterly report.

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