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Pioneer Natural Resources (PXD) Dips More Than Broader Markets: What You Should Know
Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $237.90, moving -0.46% from the previous trading session. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the independent oil and gas company had gained 9.59% over the past month. This has outpaced the Oils-Energy sector's gain of 6.66% and the S&P 500's gain of 4.01% in that time.
Pioneer Natural Resources will be looking to display strength as it nears its next earnings release. On that day, Pioneer Natural Resources is projected to report earnings of $6.41 per share, which would represent year-over-year growth of 39.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.88 billion, up 36.3% 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.77% lower. Pioneer Natural Resources is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Pioneer Natural Resources currently has a Forward P/E ratio of 9.58. This valuation marks a premium compared to its industry's average Forward P/E of 5.23.
We can also see that PXD currently has a PEG ratio of 1.12. 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 0.19 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 229, which puts it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.