Back to top

Image: Bigstock

Pioneer Natural Resources (PXD) Dips More Than Broader Markets: What You Should Know

Read MoreHide Full Article

In the latest trading session, Pioneer Natural Resources (PXD - Free Report) closed at $239.50, marking a -1.96% move from the previous day. This move lagged the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 0.27%.

Coming into today, shares of the independent oil and gas company had gained 1.02% in the past month. In that same time, the Oils-Energy sector gained 1.38%, while the S&P 500 lost 9.06%.

Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. On that day, Pioneer Natural Resources is projected to report earnings of $8.51 per share, which would represent year-over-year growth of 106.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.87 billion, up 53.94% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $33.50 per share and revenue of $26.8 billion, which would represent changes of +152.64% and +83.02%, respectively, from the prior year.

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.

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, 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. The Zacks Consensus EPS estimate has moved 0.95% higher within the past month. Pioneer Natural Resources is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 7.29. This represents a premium compared to its industry's average Forward P/E of 5.28.

Also, we should mention that PXD has a PEG ratio of 0.85. 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 industry currently had an average PEG ratio of 0.22 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 51, putting it in the top 21% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Pioneer Natural Resources Company (PXD) - free report >>

Published in