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Pioneer Natural Resources (PXD) Gains As Market Dips: What You Should Know
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Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $192.92, moving +0.86% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the independent oil and gas company had gained 2.98% over the past month. This has lagged the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
Investors will be hoping for strength from Pioneer Natural Resources as it approaches its next earnings release. On that day, Pioneer Natural Resources is projected to report earnings of $4.68 per share, which would represent year-over-year growth of 337.38%. Our most recent consensus estimate is calling for quarterly revenue of $4.79 billion, up 157.86% from the year-ago period.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 0.25% lower. Pioneer Natural Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 9.22. For comparison, its industry has an average Forward P/E of 5.89, 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 1.08. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.27 at yesterday's closing price.
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 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Pioneer Natural Resources (PXD) Gains As Market Dips: What You Should Know
Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $192.92, moving +0.86% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the independent oil and gas company had gained 2.98% over the past month. This has lagged the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
Investors will be hoping for strength from Pioneer Natural Resources as it approaches its next earnings release. On that day, Pioneer Natural Resources is projected to report earnings of $4.68 per share, which would represent year-over-year growth of 337.38%. Our most recent consensus estimate is calling for quarterly revenue of $4.79 billion, up 157.86% from the year-ago period.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 0.25% lower. Pioneer Natural Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 9.22. For comparison, its industry has an average Forward P/E of 5.89, 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 1.08. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.27 at yesterday's closing price.
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 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.