Pioneer Natural Resources (PXD) Rises But Trails Market: What Investors Should Know

In the latest market close, Pioneer Natural Resources (PXD) reached $269.73, with a +0.1% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.

The independent oil and gas company's stock has climbed by 13.57% in the past month, exceeding the Oils-Energy sector's gain of 8.5% and the S&P 500's gain of 1.5%.

Investors will be eagerly watching for the performance of Pioneer Natural Resources in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.76, showcasing an 8.64% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $5.27 billion, indicating a 16.08% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $20.29 per share and revenue of $21.37 billion, which would represent changes of -2.26% and +10.37%, 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.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.18% lower. As of now, Pioneer Natural Resources holds a Zacks Rank of #3 (Hold).

With respect to valuation, Pioneer Natural Resources is currently being traded at a Forward P/E ratio of 13.28. This valuation marks a premium compared to its industry's average Forward P/E of 11.55.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 213, finds itself in the bottom 16% echelons of all 250+ industries.

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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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