By: Benzinga
January 31, 2013 at 08:18 AM EST
UPDATE: Societe Generale Downgrades Pioneer Natural Resources to Sell on Limited Catalysts
Societe Generale downgraded Pioneer Natural Resources (NYSE: PXD ) from Hold to Sell and maintained a $110.00 price target. Societe Generale noted, "Today Pioneer announced a $1.7B joint venture with Sinochem for 40% of Pioneer's Horizontal Wolrfcamp acreage, with $500m to be paid in cash and a $1.2B drilling carry.
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