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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 at $217.50 in the latest trading session, marking a +0.38% move from the prior day. This change outpaced the S&P 500's 0.08% loss on the day. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq gained 0.03%.

Heading into today, shares of the independent oil and gas company had lost 21.72% over the past month, lagging the Oils-Energy sector's loss of 19.96% and the S&P 500's loss of 6.03% in that time.

Pioneer Natural Resources will be looking to display strength as it nears 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, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 95.96% from the year-ago period.

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. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Pioneer Natural Resources is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 6.39. This represents a premium compared to its industry's average Forward P/E of 4.24.

Investors should also note that PXD has a PEG ratio of 0.75 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 0.21 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 10, which puts it in the top 4% 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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