Pioneer Natural Resources (PXD) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The most recent trading session ended with Pioneer Natural Resources (PXD) standing at $216.83, reflecting a +0.09% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. On the other hand, the Dow registered a gain of 1.06%, and the technology-centric Nasdaq increased by 1.7%.
The the stock of independent oil and gas company has fallen by 5.29% in the past month, lagging the Oils-Energy sector's loss of 4.69% and the S&P 500's gain of 0.94%.
Analysts and investors alike will be keeping a close eye on the performance of Pioneer Natural Resources in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $6.01, reflecting a 1.69% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.26 billion, indicating a 3.02% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pioneer Natural Resources. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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, there's been a 3.86% fall in the Zacks Consensus EPS estimate. Currently, Pioneer Natural Resources is carrying a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Pioneer Natural Resources has a Forward P/E ratio of 9.39 right now. This valuation marks a premium compared to its industry's average Forward P/E of 7.37.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
