Analyst Will Green of Stephens Inc. says Pioneer Natural Resources (PXD) is an independent oil and gas name worth paying attention to because it is starting from a solid position with one of the strongest balance sheets in the sector.
“They have a great asset base in the Permian Basin, very well-hedged for this year, so they’re not going to see too bad of an impact from the price of crude,” Green said.
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Green says Pioneer is better positioned than other independent oil names in the U.S. from both a balance sheet and asset base standpoint.
“I do think that it also — because it’s more oil levered, you do participate in some upside whenever oil, the supply and demand kind of fixes itself, and you actually get a rally in crude prices. I do think it’s well-positioned to benefit there,” Green said.
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