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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 the most recent trading day at $203.27, moving +0.71% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the independent oil and gas company had lost 5.69% over the past month, lagging the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from Pioneer Natural Resources as it approaches its next earnings release. On that day, Pioneer Natural Resources is projected to report earnings of $4.66 per share, which would represent a year-over-year decline of 50.21%. Meanwhile, our latest consensus estimate is calling for revenue of $4.9 billion, down 29.12% from the prior-year quarter.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.58 per share and revenue of $19.7 billion. These results would represent year-over-year changes of -32.68% and -18.89%, respectively.
Investors might also notice recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.66% lower. Pioneer Natural Resources is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 9.81. For comparison, its industry has an average Forward P/E of 7.22, which means Pioneer Natural Resources is trading at a premium to the group.
Meanwhile, PXD's PEG ratio is currently 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.37 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 217, which puts it in the bottom 14% 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.
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Pioneer Natural Resources (PXD) Gains As Market Dips: What You Should Know
Pioneer Natural Resources (PXD - Free Report) closed the most recent trading day at $203.27, moving +0.71% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the independent oil and gas company had lost 5.69% over the past month, lagging the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from Pioneer Natural Resources as it approaches its next earnings release. On that day, Pioneer Natural Resources is projected to report earnings of $4.66 per share, which would represent a year-over-year decline of 50.21%. Meanwhile, our latest consensus estimate is calling for revenue of $4.9 billion, down 29.12% from the prior-year quarter.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.58 per share and revenue of $19.7 billion. These results would represent year-over-year changes of -32.68% and -18.89%, respectively.
Investors might also notice recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.66% lower. Pioneer Natural Resources is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 9.81. For comparison, its industry has an average Forward P/E of 7.22, which means Pioneer Natural Resources is trading at a premium to the group.
Meanwhile, PXD's PEG ratio is currently 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.37 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 217, which puts it in the bottom 14% 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.