Pioneer Natural Resources (PXD) Stock Moves -1.1%: What You Should Know
In the latest market close, Pioneer Natural Resources (PXD) reached $226.81, with a -1.1% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 1.8%.
The the stock of independent oil and gas company has risen by 2.53% in the past month, leading the Oils-Energy sector's gain of 0.81% and undershooting the S&P 500's gain of 5.1%.
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 report is set to go public on February 22, 2024. It is anticipated that the company will report an EPS of $5.67, marking a 4.06% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.21 billion, indicating a 2.06% growth compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.25% lower. At present, Pioneer Natural Resources boasts a Zacks Rank of #4 (Sell).
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 10.61. For comparison, its industry has an average Forward P/E of 8.72, which means Pioneer Natural Resources is trading at a premium to the group.
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 247, positioning it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
