Pioneer Natural Resources (PXD) Stock Slides as Market Rises: Facts to Know Before You Trade

Pioneer Natural Resources (PXD) closed the latest trading day at $243.39, indicating a -0.51% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.12%. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.

Shares of the independent oil and gas company have appreciated by 6.67% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.79% and the S&P 500's gain of 2.06%.

The investment community will be paying close attention to the earnings performance of Pioneer Natural Resources in its upcoming release. In that report, analysts expect Pioneer Natural Resources to post earnings of $4.98 per share. This would mark a year-over-year decline of 4.41%. Alongside, our most recent consensus estimate is anticipating revenue of $5.29 billion, indicating a 16.43% upward movement from the same quarter last year.

PXD's full-year Zacks Consensus Estimates are calling for earnings of $20.61 per share and revenue of $21.36 billion. These results would represent year-over-year changes of -0.72% and +10.32%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pioneer Natural Resources. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.37% lower. Pioneer Natural Resources currently has a Zacks Rank of #3 (Hold).

With respect to valuation, Pioneer Natural Resources is currently being traded at a Forward P/E ratio of 11.87. This valuation marks a premium compared to its industry's average Forward P/E of 10.07.

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 215, putting it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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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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