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Pioneer Natural Resources (PXD) Stock Sinks As Market Gains: What You Should Know

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Pioneer Natural Resources (PXD) closed at $253 in the latest trading session, marking a -1.45% move from the prior day. This move lagged the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.15%.

Heading into today, shares of the independent oil and gas company had gained 11.96% over the past month, outpacing the Oils-Energy sector's gain of 11.84% and the S&P 500's gain of 3.76% in that time.

Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. On that day, Pioneer Natural Resources is projected to report earnings of $5.94 per share, which would represent year-over-year growth of 235.59%. Our most recent consensus estimate is calling for quarterly revenue of $5.09 billion, up 108.3% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $24.05 per share and revenue of $20.4 billion, which would represent changes of +81.37% and +39.28%, respectively, from the prior year.

Any recent changes to analyst estimates for Pioneer Natural Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.26% higher. Pioneer Natural Resources is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 10.67. Its industry sports an average Forward P/E of 6.83, so we one might conclude that Pioneer Natural Resources is trading at a premium comparatively.

Meanwhile, PXD's PEG ratio is currently 1.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.33 as of yesterday's close.

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 70, which puts it in the top 28% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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