Pioneer Natural Resources is a huge player in the Permian Basin and the Eagle Ford in Texas, and it owns more than 20,000 locations in the world’s second-largest oil reservoir in the Midland Basin. With a stellar balance sheet, the company is poised to remain a top player in the Permian, as it expects to deliver solid production growth going forward.
Various media sources have said the company may still be in ongoing discussion with Exxon Mobil for a possible purchase or merger.
Pioneer Natural Resources stock comes with an 11.22% dividend, which varies from quarter to quarter. Piper Sandler’s target price of $319 is well above the $252.74 consensus figure and the most recent close at $204.80.
Verizon
This top telecommunications stock offers tremendous value at current levels. Verizon Communications Inc. (NYSE: VZ) is one of the largest U.S. telecom companies. It provides wireless and wireline service to retail, enterprise and wholesale customers.
Verizon’s wireless network serves approximately 120 million mobile connections with 115 million postpaid subscribers. Verizon’s wireline business has undergone a period of secular decline due to wireless substitution and cable competition.
The company also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and it delivers integrated business solutions to customers worldwide.
Investors receive a 7.40% dividend. Verizon Communications stock has a $49 price target at Cowen. The consensus target is $43.48, and Friday’s closing share price was $35.47.
Bull markets are sustained when the economy is gaining strength. While the breakout of the S&P 500 20% higher than the lows is significant, all bear markets are more than capable of bull market strength rallies. The current rally has been very narrow, with less than 10 stocks accounting for 95% of the gains. The best advice is to take profits and shift to passive income-producing winners while the investing wind is at your back.
Originally published at 24/7 Wall St.
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