NEW YORK (TheStreet) -- Pioneer Natural Resources (PXD) shares are up 0.7% to $211.40 in early market trading on Wednesday after being upgraded to "accumulate" from "hold" by analysts at KLR Group who also raised their price target to $258 from $254.
The company reported mixed results from its second quarter earnings period, beating analysts earnings guidance while also missing their revenue expectations.
TheStreet Ratings team rates PIONEER NATURAL RESOURCES CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PIONEER NATURAL RESOURCES CO (PXD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally higher debt management risk."