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Pioneer Natural Resources (PXD) Gains But Lags Market: What You Should Know
Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $241.45, moving +0.86% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the independent oil and gas company had gained 4.49% over the past month, lagging the Oils-Energy sector's gain of 5.68% and outpacing the S&P 500's gain of 4.06% 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 $6.21 per share. This would mark year-over-year growth of 35.59%. Our most recent consensus estimate is calling for quarterly revenue of $5.87 billion, up 35.91% from the year-ago period.
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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.83% lower. Pioneer Natural Resources is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 9.87. Its industry sports an average Forward P/E of 5.58, so we one might conclude that Pioneer Natural Resources is trading at a premium comparatively.
Meanwhile, PXD's PEG ratio is currently 1.15. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.2 based on yesterday's closing prices.
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 230, which puts it in the bottom 9% 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.