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Pioneer Natural Resources (PXD) Rises As Market Takes a Dip: Key Facts

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Pioneer Natural Resources closed the most recent trading day at $258.21, moving +1.05% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.

Heading into today, shares of the independent oil and gas company had gained 9.91% over the past month, outpacing the Oils-Energy sector's gain of 4.74% and the S&P 500's gain of 3.05% in that time.

Market participants will be closely following the financial results of Pioneer Natural Resources in its upcoming release. The company's upcoming EPS is projected at $4.87, signifying a 6.53% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.27 billion, showing a 16.08% escalation compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $20.35 per share and a revenue of $21.41 billion, indicating changes of -1.97% and +10.59%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pioneer Natural Resources. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.59% decrease. Pioneer Natural Resources is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Pioneer Natural Resources is presently being traded at a Forward P/E ratio of 12.56. This represents a premium compared to its industry's average Forward P/E of 10.61.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 205, this industry ranks in the bottom 19% of all industries, numbering over 250.

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.

Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.

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