$PXD Pioneer Natural Resources maintains solid gains as investors reward the company for focusing more on returns than growth - as shown by a sharp dividend increase and stock buyback - and its plan to sell off its assets outside of the Permian basin.

Bloomberg's Liam Denning says the outsize cash margins in PXD's Permian fracking business make it a no-brainer to focus its attention there, and notes the stock now will offer a pure play on the hottest U.S. shale property "and, it has to be said, a cleaner potential acquisition target at a time when domestic oil majors are re-discovering their love of home."

B. Riley FBR reiterates its Buy rating and $305 price target, believing the technology- and process-driven productivity gains expected over the next 6-12 months combined with the expected recognition of material resource expansion potential,should help PXD reclaim its position as a leader in U.S. oil shale growth.

Stifel analysts also keep their Buy rating, as the results reaffirm its position that PXD has the potential to be the best performing Permian large cap in 2018.