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Pioneer Natural Resources (PXD) Stock Sinks As Market Gains: What You Should Know
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Pioneer Natural Resources (PXD - Free Report) closed at $215.20 in the latest trading session, marking a -0.33% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Coming into today, shares of the independent oil and gas company had gained 7.27% in the past month. In that same time, the Oils-Energy sector gained 2.95%, while the S&P 500 gained 3.18%.
Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. This is expected to be August 1, 2023. On that day, Pioneer Natural Resources is projected to report earnings of $4.67 per share, which would represent a year-over-year decline of 50.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.91 billion, down 28.99% from the year-ago period.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.61 per share and revenue of $19.72 billion. These results would represent year-over-year changes of -32.58% and -18.83%, respectively.
Investors might also notice recent changes to analyst estimates for Pioneer Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 2.32% lower. Pioneer Natural Resources currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Pioneer Natural Resources has a Forward P/E ratio of 10.48 right now. This valuation marks a premium compared to its industry's average Forward P/E of 7.95.
Investors should also note that PXD has a PEG ratio of 1.23 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.4 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 208, putting it in the bottom 18% 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.
To follow PXD in the coming trading sessions, be sure to utilize Zacks.com.
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Pioneer Natural Resources (PXD) Stock Sinks As Market Gains: What You Should Know
Pioneer Natural Resources (PXD - Free Report) closed at $215.20 in the latest trading session, marking a -0.33% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Coming into today, shares of the independent oil and gas company had gained 7.27% in the past month. In that same time, the Oils-Energy sector gained 2.95%, while the S&P 500 gained 3.18%.
Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. This is expected to be August 1, 2023. On that day, Pioneer Natural Resources is projected to report earnings of $4.67 per share, which would represent a year-over-year decline of 50.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.91 billion, down 28.99% from the year-ago period.
PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.61 per share and revenue of $19.72 billion. These results would represent year-over-year changes of -32.58% and -18.83%, respectively.
Investors might also notice recent changes to analyst estimates for Pioneer Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 2.32% lower. Pioneer Natural Resources currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Pioneer Natural Resources has a Forward P/E ratio of 10.48 right now. This valuation marks a premium compared to its industry's average Forward P/E of 7.95.
Investors should also note that PXD has a PEG ratio of 1.23 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.4 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 208, putting it in the bottom 18% 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.
To follow PXD in the coming trading sessions, be sure to utilize Zacks.com.