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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 $264.55, marking a +1.22% move from the previous day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.5%.

Heading into today, shares of the independent oil and gas company had lost 2.76% over the past month, lagging the Oils-Energy sector's gain of 3.39% and outpacing the S&P 500's loss of 6.69% in that time.

Investors will be hoping for strength from Pioneer Natural Resources as it approaches its next earnings release. In that report, analysts expect Pioneer Natural Resources to post earnings of $8.59 per share. This would mark year-over-year growth of 236.86%. Meanwhile, our latest consensus estimate is calling for revenue of $6.7 billion, up 95.96% from the prior-year quarter.

PXD's full-year Zacks Consensus Estimates are calling for earnings of $33.90 per share and revenue of $26.19 billion. These results would represent year-over-year changes of +155.66% and +78.83%, respectively.

Any recent changes to analyst estimates for Pioneer Natural Resources 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 4.43% higher. Pioneer Natural Resources is currently a Zacks Rank #3 (Hold).

Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 7.71. This valuation marks a premium compared to its industry's average Forward P/E of 5.53.

It is also worth noting that PXD currently has a PEG ratio of 0.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.26 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 24, which puts it in the top 10% 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.

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