Can Pioneer Natural Resources (PXD) Keep the Earnings Streak Alive This Quarter?

Looking for a stock that might be in a good position to beat earnings at its next report? Consider Pioneer Natural Resources Company PXD, a firm in the Oil and Gas - Exploration and Production - United States, which could be a great candidate for another beat.

This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, PXD has beaten estimates by at least 60% in both cases, suggesting it has a nice short-term history of crushing expectations.

Earnings in Focus

Two quarters ago, PXD expected to post earnings of 11 cents per share, while it actually produced earnings of 21 cents per share, a beat of 90.9%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 30 cents per share, when it actually produced earnings of 48 cents per share instead, representing a 60% positive surprise.

Pioneer Natural Resources Company Price and EPS Surprise

Pioneer Natural Resources Company Price and EPS Surprise | Pioneer Natural Resources Company Quote

Thanks in part to this history, recent estimates have been moving higher for Pioneer Natural Resources. In fact, the Earnings ESP for PXD is positive, which is a great sign of a coming beat.

After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for PXD, as the firm currently has a Zacks Earnings ESP of +24.96%, so another beat could be around the corner.

This is particularly true when you consider that PXD has a great Zacks Rank #3 (Hold) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that PXD could see another beat at its next report, especially if recent trends are any guide.

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