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Pioneer Natural Resources (PXD) Stock Sinks As Market Gains: What You Should Know

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Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $191.91, moving -0.4% from the previous trading session. This change lagged the S&P 500's daily gain of 0.18%.

Prior to today's trading, shares of the independent oil and gas company had gained 14.68% over the past month. This has outpaced the Oils-Energy sector's gain of 12.26% and the S&P 500's gain of 2.96% in that time.

PXD will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2021. The company is expected to report EPS of $3.92, up 2205.88% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.5 billion, up 148.12% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $13.20 per share and revenue of $15.75 billion, which would represent changes of +704.88% and +132.1%, respectively, from the prior year.

Any recent changes to analyst estimates for PXD should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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

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 4.89% higher. PXD currently has a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that PXD has a Forward P/E ratio of 14.59 right now. For comparison, its industry has an average Forward P/E of 10.76, which means PXD is trading at a premium to the group.

We can also see that PXD currently has a PEG ratio of 1.71. 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 0.51 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 4, putting it in the top 2% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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