Is Pioneer Natural Resources (PXD) Stock Outpacing Its Oils-Energy Peers This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Pioneer Natural Resources (PXD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PXD and the rest of the Oils-Energy group's stocks.
Pioneer Natural Resources is one of 252 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PXD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for PXD's full-year earnings has moved 58.92% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, PXD has returned 30.45% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 16.88% on a year-to-date basis. This means that Pioneer Natural Resources is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PXD belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 46 individual stocks and currently sits at #66 in the Zacks Industry Rank. This group has gained an average of 43.80% so far this year, so PXD is slightly underperforming its industry in this area.
Investors in the Oils-Energy sector will want to keep a close eye on PXD as it attempts to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
