Pioneer Natural Resources closed the most recent trading day at $238.95, moving -1% from the previous trading session. This change lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Coming into today, shares of the independent oil and gas company had gained 2.02% in the past month. In that same time, the Oils-Energy sector gained 4.35%, while the S&P 500 lost 0.12%.
Pioneer Natural Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.08, down 32.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.08 billion, down 16.56% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.43 per share and revenue of $19.47 billion, which would represent changes of -33.17% and -19.85%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Pioneer Natural Resources. Recent revisions tend to reflect the latest near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 5.5% higher within the past month. Pioneer Natural Resources is currently a Zacks Rank #3 (Hold).
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 11.81. For comparison, its industry has an average Forward P/E of 10.06, which means Pioneer Natural Resources is trading at a premium to the group.
Also, we should mention that PXD has a PEG ratio of 1.38. 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 0.5 based on yesterday's closing prices.
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 206, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Pioneer Natural Resources (PXD) Dips More Than Broader Markets: What You Should Know
Pioneer Natural Resources closed the most recent trading day at $238.95, moving -1% from the previous trading session. This change lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Coming into today, shares of the independent oil and gas company had gained 2.02% in the past month. In that same time, the Oils-Energy sector gained 4.35%, while the S&P 500 lost 0.12%.
Pioneer Natural Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.08, down 32.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.08 billion, down 16.56% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.43 per share and revenue of $19.47 billion, which would represent changes of -33.17% and -19.85%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Pioneer Natural Resources. Recent revisions tend to reflect the latest near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 5.5% higher within the past month. Pioneer Natural Resources is currently a Zacks Rank #3 (Hold).
In terms of valuation, Pioneer Natural Resources is currently trading at a Forward P/E ratio of 11.81. For comparison, its industry has an average Forward P/E of 10.06, which means Pioneer Natural Resources is trading at a premium to the group.
Also, we should mention that PXD has a PEG ratio of 1.38. 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 0.5 based on yesterday's closing prices.
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 206, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.