Pioneer Natural Resources (PXD) Stock Drops Despite Market Gains: Important Facts to Note
Pioneer Natural Resources (PXD) closed at $227.76 in the latest trading session, marking a -0.13% move from the prior day. This change lagged the S&P 500's daily gain of 0.82%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.95%.
The independent oil and gas company's stock has climbed by 2.2% in the past month, exceeding the Oils-Energy sector's loss of 1.15% and lagging the S&P 500's gain of 5.59%.
The investment community will be paying close attention to the earnings performance of Pioneer Natural Resources in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. It is anticipated that the company will report an EPS of $5.78, marking a 2.2% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.21 billion, indicating a 2.06% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Pioneer Natural Resources. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.65% lower. Pioneer Natural Resources currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 10.59. This signifies a premium in comparison to the average Forward P/E of 8.06 for its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 247, finds itself in the bottom 2% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
