Pioneer Natural Resources (PXD) closed at $223.08 in the latest trading session, marking a -1.37% move from the prior day. This change lagged the S&P 500's 0.88% loss on the day. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the independent oil and gas company had lost 18.59% over the past month, lagging the Oils-Energy sector's loss of 14.09% and the S&P 500's loss of 8.06% in that time.
Pioneer Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Pioneer Natural Resources to post earnings of $8.59 per share. This would mark year-over-year growth of 236.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 95.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $33.90 per share and revenue of $26.19 billion. These totals would mark changes of +155.66% and +78.83%, respectively, from last year.
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. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 1.15% higher within the past month. Pioneer Natural Resources is currently a Zacks Rank #3 (Hold).
Digging into valuation, Pioneer Natural Resources currently has a Forward P/E ratio of 6.67. For comparison, its industry has an average Forward P/E of 4.46, which means Pioneer Natural Resources is trading at a premium to the group.
It is also worth noting that PXD currently has a PEG ratio of 0.78. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.22 based on yesterday's closing prices.
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 38, which puts it in the top 16% 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.
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