The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Pioneer Natural Resources (PXD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Pioneer Natural Resources is a member of the Oils-Energy sector. This group includes 311 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PXD is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PXD's full-year earnings has moved 23.77% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PXD has moved about 9.95% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 6.14% on a year-to-date basis. This means that Pioneer Natural Resources is outperforming the sector as a whole this year.
Looking more specifically, PXD belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 74 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, this group has lost an average of 1.09% so far this year, meaning that PXD is performing better in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track PXD. The stock will be looking to continue its solid performance.
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