Pioneer Natural Resources (PXD) Registers a Bigger Fall Than the Market: Important Facts to Note
Pioneer Natural Resources (PXD) closed at $229.62 in the latest trading session, marking a -1.18% move from the prior day. This move lagged the S&P 500's daily loss of 0.34%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq lost 0.56%.
Prior to today's trading, shares of the independent oil and gas company had gained 4.64% over the past month. This has outpaced the Oils-Energy sector's gain of 2.1% and the S&P 500's gain of 2.56% in that time.
The upcoming earnings release of Pioneer Natural Resources will be of great interest to investors. On that day, Pioneer Natural Resources is projected to report earnings of $6.14 per share, which would represent year-over-year growth of 3.89%. Our most recent consensus estimate is calling for quarterly revenue of $5.3 billion, up 3.73% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pioneer Natural Resources. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.62% lower. Pioneer Natural Resources currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Pioneer Natural Resources currently has a Forward P/E ratio of 9.73. This signifies a premium in comparison to the average Forward P/E of 7.33 for its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 239, positioning it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
