Surging Earnings Estimates Signal Good News For Pioneer Natural Resources (PXD)

By Zacks Investment ResearchStock MarketsNov 27, 2017 08:47PM ET

www.investing.com/analysis/surging-earnings-estimates-signal-good-news-for-pioneer-natural-resources-pxd-200268771

Surging Earnings Estimates Signal Good News For Pioneer Natural Resources (PXD)

By Zacks Investment Research | Nov 27, 2017 08:47PM ET

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Pioneer Natural Resources Company (NYSE:PXD) is a large independent oil and gas exploration and production company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PXD’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Pioneer Natural Resources could be a solid choice for investors.

Current Quarter Estimates for PXD

In the past 30 days, thirteen estimates have gone higher for Pioneer Natural Resources while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 48 cents a share 30 days ago, to 64 cents today, a move of 33.3%.

Current Year Estimates for PXD

Meanwhile, Pioneer Natural Resources’ current year figures are also looking quite promising, with sixteen estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.19 per share 30 days ago to $1.53 per share today, an increase of 28.6%.

Pioneer Natural Resources Company Price and Consensus

Pioneer Natural Resources Company Price and Consensus | Pioneer Natural Resources Company Quote

Bottom Line

The stock has also started to move higher lately, adding 8.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Surging Earnings Estimates Signal Good News For Pioneer Natural Resources (PXD)

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