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Pioneer Natural Resources (PXD) Dips More Than Broader Markets: What You Should Know

Pioneer Natural Resources (PXD) closed the most recent trading day at $218.40, moving -0.73% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.67%.

Prior to today's trading, shares of the independent oil and gas company had lost 5.77% over the past month. This has lagged the Oils-Energy sector's gain of 3.44% and the S&P 500's gain of 8.32% in that time.

Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. This is expected to be February 22, 2023. The company is expected to report EPS of $5.83, up 27.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.78 billion, up 33.9% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 9.11% lower. 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 9.34. This valuation marks a premium compared to its industry's average Forward P/E of 5.88.

It is also worth noting that PXD currently has a PEG ratio of 1.09. 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 0.22 as of yesterday's close.

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 245, putting it in the bottom 3% 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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Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report

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