Pioneer Natural Resources (NYSE:PXD) Capitalized for Drilling Acceleration

Contrary to some of their peers, Pioneer Natural Resources (NYSE:PXD) has the capital to accelerate drilling at its Eagle Ford Shale and Spraberry Trend projects.

Global Hunter says, "Pioneer is accelerating its drilling activity in the prolific and liquid-rich Spraberry Trend and Eagle Ford Shale plays, with upside to current market expectations. The company's recent sale of Tunisian assets provides substantial capital to further accelerate development."

Global Hunter Securities launched coverage on Pioneer Natural Resources (NYSE:PXD) with a "Buy." Pioneer closed Friday at $91.15, up $1.77, or 1.98 percent. Global has a price target of $120 on Pioneer.