Pioneer Natural Resources (PXD) closed at $229.55 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's 0.27% loss on the day. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, added 0.14%.
Prior to today's trading, shares of the independent oil and gas company had lost 1.57% over the past month. This has lagged the Oils-Energy sector's gain of 4.61% and was narrower than the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. On that day, Pioneer Natural Resources is projected to report earnings of $5.23 per share, which would represent a year-over-year decline of 30.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.21 billion, down 14.57% from the year-ago period.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.85 per share and revenue of $19.79 billion. These results would represent year-over-year changes of -31.8% and -18.54%, respectively.
Investors should also note any recent changes to analyst estimates for Pioneer Natural Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.31% higher. Pioneer Natural Resources currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 11.23. Its industry sports an average Forward P/E of 9.86, so we one might conclude that Pioneer Natural Resources is trading at a premium comparatively.
Investors should also note that PXD has a PEG ratio of 1.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PXD's industry had an average PEG ratio of 0.5 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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