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

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Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $157.34, moving -0.83% from the previous trading session. This move lagged the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.12%.

Coming into today, shares of the independent oil and gas company had gained 13.76% in the past month. In that same time, the Oils-Energy sector gained 3.01%, while the S&P 500 gained 1.74%.

Wall Street will be looking for positivity from PXD as it approaches its next earnings report date. In that report, analysts expect PXD to post earnings of $1.75 per share. This would mark year-over-year growth of 52.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.44 billion, up 8.33% from the year-ago period.

PXD's full-year Zacks Consensus Estimates are calling for earnings of $8.67 per share and revenue of $11.5 billion. These results would represent year-over-year changes of +428.66% and +69.39%, respectively.

Investors should also note any recent changes to analyst estimates for PXD. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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. Within the past 30 days, our consensus EPS projection has moved 25.17% higher. PXD is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, PXD is holding a Forward P/E ratio of 18.3. This represents a premium compared to its industry's average Forward P/E of 11.52.

Investors should also note that PXD has a PEG ratio of 2.14 right now. 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. PXD's industry had an average PEG ratio of 0.91 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 38, which puts it in the top 15% 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.

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