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

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In the latest trading session, Pioneer Natural Resources (PXD - Free Report) closed at $253.34, marking a +1% move from the previous day. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.64%.

Heading into today, shares of the independent oil and gas company had lost 0.2% over the past month, lagging the Oils-Energy sector's gain of 8.86% and the S&P 500's gain of 0.17% in that time.

Pioneer Natural Resources will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2022. On that day, Pioneer Natural Resources is projected to report earnings of $6.61 per share, which would represent year-over-year growth of 273.45%. Meanwhile, our latest consensus estimate is calling for revenue of $5.51 billion, up 125.58% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $28.47 per share and revenue of $22.73 billion. These totals would mark changes of +114.71% and +55.23%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Pioneer Natural Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.

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. Within the past 30 days, our consensus EPS projection has moved 21.02% higher. Pioneer Natural Resources is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, Pioneer Natural Resources is holding a Forward P/E ratio of 8.81. For comparison, its industry has an average Forward P/E of 6.75, 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 1.03. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.29 at yesterday's closing price.

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 13, putting it in the top 6% 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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