Pioneer Natural Resources (PXD) Stock Declines While Market Improves: Some Information for Investors
Pioneer Natural Resources (PXD) ended the recent trading session at $228.55, demonstrating a -0.56% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 1.25%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 1.3%.
Coming into today, shares of the independent oil and gas company had lost 1.09% in the past month. In that same time, the Oils-Energy sector lost 1.82%, while the S&P 500 gained 1.58%.
Market participants will be closely following the financial results of Pioneer Natural Resources in its upcoming release. In that report, analysts expect Pioneer Natural Resources to post earnings of $5.78 per share. This would mark a year-over-year decline of 2.2%. Simultaneously, our latest consensus estimate expects the revenue to be $5.21 billion, showing a 2.06% escalation compared to the year-ago quarter.
Investors should also take note of any recent adjustments to analyst estimates for Pioneer Natural Resources. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.89% decrease. Pioneer Natural Resources is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 10.68. For comparison, its industry has an average Forward P/E of 8.23, 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. With its current Zacks Industry Rank of 249, this industry ranks in the bottom 2% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
