Analyst Favors Exxon Mobil Deal, But Downgrades Pioneer Natural Resources: Here's Why
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Phillip Jungwirth has downgraded Pioneer Natural Resources Co (PXD) to Market Perform from Outperform rating following its all-stock merger with Exxon Mobil Corp (XOM) for $59.5 billion. Despite the downgrade, the analyst views the deal favorably and anticipates it to close in 2Q24. PXD shares are trading higher by 0.17% at $248.65.
October 16, 2023 | 4:38 pm
News sentiment analysis
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NEGATIVE IMPACT
Pioneer Natural Resources has been downgraded to Market Perform from Outperform by BMO Capital Markets analyst following its merger with Exxon Mobil.
The downgrade of Pioneer Natural Resources by BMO Capital Markets analyst following its merger with Exxon Mobil indicates a potential negative impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil's merger with Pioneer Natural Resources is viewed favorably by BMO Capital Markets analyst.
The favorable view of Exxon Mobil's merger with Pioneer Natural Resources by BMO Capital Markets analyst indicates a potential positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80