Advertisement
New Zealand markets open in 1 hour 29 minutes
  • NZX 50

    11,678.68
    -3.83 (-0.03%)
     
  • NZD/USD

    0.6119
    -0.0023 (-0.38%)
     
  • ALL ORDS

    7,935.70
    -99.20 (-1.23%)
     
  • OIL

    79.05
    -0.78 (-0.98%)
     
  • GOLD

    2,336.60
    -19.90 (-0.84%)
     

Here's Why Pioneer Natural Resources (PXD) Gained But Lagged the Market Today

In the latest trading session, Pioneer Natural Resources (PXD) closed at $272.78, marking a +1.09% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.

Prior to today's trading, shares of the independent oil and gas company had gained 11.79% over the past month. This has outpaced the Oils-Energy sector's gain of 10.33% and the S&P 500's gain of 0.48% in that time.

The investment community will be paying close attention to the earnings performance of Pioneer Natural Resources in its upcoming release. The company's earnings per share (EPS) are projected to be $4.76, reflecting an 8.64% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.21 billion, up 14.74% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $20.29 per share and revenue of $21.37 billion. These totals would mark changes of -2.26% and +10.37%, respectively, from last year.

ADVERTISEMENT

It is also important to note the recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

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 2.14% lower. Pioneer Natural Resources presently features a Zacks Rank of #3 (Hold).

Looking at its valuation, Pioneer Natural Resources is holding a Forward P/E ratio of 13.3. This indicates a premium in contrast to its industry's Forward P/E of 11.52.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research