Pioneer Natural Resources (PXD) Stock Moves -0.41%: What You Should Know
Pioneer Natural Resources (PXD) closed the latest trading day at $217.12, indicating a -0.41% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.56%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the independent oil and gas company witnessed a loss of 5.82% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.83% and the S&P 500's gain of 1.2%.
Analysts and investors alike will be keeping a close eye on the performance of Pioneer Natural Resources in its upcoming earnings disclosure. The company is predicted to post an EPS of $6.01, indicating a 1.69% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.26 billion, up 3.02% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Pioneer Natural Resources. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 3.86% lower. Currently, Pioneer Natural Resources is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 9.45. For comparison, its industry has an average Forward P/E of 7.39, 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 251, positioning it in the bottom 1% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
