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Pioneer Natural Resources (PXD) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Pioneer Natural Resources closed at $260, marking a +1.23% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Meanwhile, the Dow experienced a rise of 1.22%, and the technology-dominated Nasdaq saw an increase of 0.51%.

Shares of the independent oil and gas company witnessed a gain of 9.88% over the previous month, beating the performance of the Oils-Energy sector with its gain of 5.4% and the S&P 500's gain of 2.84%.

The investment community will be paying close attention to the earnings performance of Pioneer Natural Resources in its upcoming release. The company is forecasted to report an EPS of $4.87, showcasing a 6.53% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.27 billion, indicating a 16.08% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $20.35 per share and a revenue of $21.41 billion, demonstrating changes of -1.97% and +10.59%, respectively, from the preceding year.

Investors should also pay attention to any latest changes in analyst estimates for Pioneer Natural Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 3.66% lower. Pioneer Natural Resources is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that Pioneer Natural Resources has a Forward P/E ratio of 12.62 right now. For comparison, its industry has an average Forward P/E of 10.93, which means Pioneer Natural Resources is trading at a premium to the group.

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 strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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