Pioneer Natural Resources (PXD) Gains But Lags Market: What You Should Know
Pioneer Natural Resources (PXD) closed at $253.41 in the latest trading session, marking a +0.16% move from the prior day. This change lagged the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Prior to today's trading, shares of the independent oil and gas company had gained 5.59% over the past month. This has lagged the Oils-Energy sector's gain of 7.99% and outpaced the S&P 500's gain of 4.69% in that time.
Pioneer Natural Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.94, up 235.59% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.09 billion, up 108.3% from the year-ago period.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $24.05 per share and revenue of $20.4 billion. These results would represent year-over-year changes of +81.37% and +39.28%, respectively.
It is also important to note the recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.5% higher within the past month. Pioneer Natural Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Pioneer Natural Resources currently has a Forward P/E ratio of 10.52. This valuation marks a premium compared to its industry's average Forward P/E of 6.51.
Meanwhile, PXD's PEG ratio is currently 1.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.32 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PXD in the coming trading sessions, be sure to utilize Zacks.com.
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