Pioneer Natural Resources ended the recent trading session at $255.23, demonstrating a +1.35% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
The independent oil and gas company's stock has climbed by 7.66% in the past month, exceeding the Oils-Energy sector's gain of 0.46% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Pioneer Natural Resources in its upcoming release. The company's earnings per share (EPS) are projected to be $5.46, reflecting a 27.01% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.21 billion, reflecting a 14.53% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $21.56 per share and revenue of $19.95 billion, which would represent changes of -29.47% and -17.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pioneer Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.67% higher within the past month. Pioneer Natural Resources currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Pioneer Natural Resources currently has a Forward P/E ratio of 11.68. This valuation marks a premium compared to its industry's average Forward P/E of 9.96.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 14, placing it within the top 6% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Image: Bigstock
Why the Market Dipped But Pioneer Natural Resources (PXD) Gained Today
Pioneer Natural Resources ended the recent trading session at $255.23, demonstrating a +1.35% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
The independent oil and gas company's stock has climbed by 7.66% in the past month, exceeding the Oils-Energy sector's gain of 0.46% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Pioneer Natural Resources in its upcoming release. The company's earnings per share (EPS) are projected to be $5.46, reflecting a 27.01% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.21 billion, reflecting a 14.53% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $21.56 per share and revenue of $19.95 billion, which would represent changes of -29.47% and -17.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pioneer Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.67% higher within the past month. Pioneer Natural Resources currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Pioneer Natural Resources currently has a Forward P/E ratio of 11.68. This valuation marks a premium compared to its industry's average Forward P/E of 9.96.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 14, placing it within the top 6% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.