Pioneer Natural Resources (PXD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Pioneer Natural Resources (PXD) closed at $229.83, marking a -1.95% move from the previous day. This change lagged the S&P 500's 1.3% loss on the day. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Prior to today's trading, shares of the independent oil and gas company had gained 2.63% over the past month. This has lagged the Oils-Energy sector's gain of 2.85% and the S&P 500's gain of 6.41% in that time.
Investors will be hoping for strength from Pioneer Natural Resources as it approaches its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Pioneer Natural Resources to post earnings of $5.94 per share. This would mark year-over-year growth of 29.69%. Our most recent consensus estimate is calling for quarterly revenue of $5.83 billion, up 35.03% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Pioneer Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.8% lower. Pioneer Natural Resources is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Pioneer Natural Resources's current valuation metrics, including its Forward P/E ratio of 9.92. For comparison, its industry has an average Forward P/E of 6.28, which means Pioneer Natural Resources is trading at a premium to the group.
It is also worth noting that PXD currently has a PEG ratio of 1.16. 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. PXD's industry had an average PEG ratio of 0.24 as of yesterday's close.
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 248, putting it in the bottom 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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