Pioneer Natural Resources (PXD) closed the most recent trading day at $233.93, moving -0.57% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the independent oil and gas company had lost 0.85% in the past month. In that same time, the Oils-Energy sector gained 4.72%, while the S&P 500 gained 2.08%.
Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. In that report, analysts expect Pioneer Natural Resources to post earnings of $5.08 per share. This would mark a year-over-year decline of 32.09%. Our most recent consensus estimate is calling for quarterly revenue of $5.08 billion, down 16.56% from the year-ago period.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.43 per share and revenue of $19.47 billion. These results would represent year-over-year changes of -33.17% and -19.85%, respectively.
It is also important to note the recent changes to analyst estimates for Pioneer Natural Resources. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.43% higher. Pioneer Natural Resources is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 11.52. Its industry sports an average Forward P/E of 9.67, so we one might conclude that Pioneer Natural Resources is trading at a premium comparatively.
Also, we should mention that PXD has a PEG ratio of 1.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.48 at yesterday's closing price.
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 187, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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