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Pioneer Natural Resources Company (NYSE: PXD) Stock Forecast: Bearish Expectations Portend -90.17% Downside In 2022

The trading price of Pioneer Natural Resources Company (NYSE:PXD) floating lower at last check on Wednesday, August 03, closing at $221.91, -2.63% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $226.281 and $231.00. The company’s P/E ratio in the trailing 12-month period was 13.90, while its 5Y monthly beta was 1.58. In examining the 52-week price action we see that the stock hit a 52-week high of $288.46 and a 52-week low of $128.98. Over the past month, the stock has gained 1.77% in value.

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Pioneer Natural Resources Company, whose market valuation is $52.72 billion at the time of this writing, is expected to release its quarterly earnings report Feb 21, 2022 – Feb 25, 2022. The dividend yield on the company stock is 7.40%, while its Forward Dividend ratio is 16.87. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $8.8 per share this quarter, however they have predicted annual earnings per share of $33.12 for 2022 and $29.16 for 2023. It means analysts are expecting annual earnings per share growth of 149.80% this year and -12.00% next year.

Analysts have forecast the company to bring in revenue of $4.54 billion for the current quarter, with the likely lows of $3.31 billion and highs of $6.74 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $17.87 billion. The company’s revenue is forecast to grow by 55.30% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Pioneer Natural Resources Company 4 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest PXD has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently Hold.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned PXD a recommendation rating is 34. Out of them, 9 rate it a Hold, while 19 recommend Buy, whereas 4 assign an Overweight rating. 2 analyst(s) have tagged Pioneer Natural Resources Company (PXD) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.66, which symbolizes a positive outlook. A quick review shows that PXD’s price is currently 2.09% off the SMA20 and -7.41% off the SMA50. The RSI metric on the 14-day chart is currently showing 47.66, and weekly volatility stands at 3.18%. When measured over the past 30 days, the indicator reaches 3.58%. Pioneer Natural Resources Company (NYSE:PXD)’s beta value is currently sitting at 1.54, while the Average True Range indicator is currently displaying 8.87. With analysts defining $244.00-$422.00 as the low and high price targets, we arrive at a consensus price target of $297.23 for the trailing 12-month period. The current price is about -9.95% off the estimated low and -90.17% off the forecast high, based on this estimate. Investors will be thrilled if PXD’s share price rises to $298.00, which is the median consensus price. At that level, PXD’s share price would be -34.29% below current price.

To see how Pioneer Natural Resources Company stock has been performing today in comparison to its peers in the industry, here are the numbers: PXD stock’s performance was -2.63% at last check in today’s session, and 70.73% in the past year, while EOG Resources Inc. (EOG) has been trading -2.57% in recent session and positioned 56.59% higher than it was a year ago. Another comparable company Devon Energy Corporation (DVN) saw its stock trading -4.31% lower in today’s session but was up 145.06% in a year. Furthermore, Occidental Petroleum Corporation (OXY) showed a decrease of -4.00% today while its price kept inclining at 152.27% over the past year. Pioneer Natural Resources Company has a P/E ratio of 13.90, compared to EOG Resources Inc.’s 14.31 and Devon Energy Corporation’s 11.36. Also during today’s trading, the S&P 500 Index has surged 1.03%, while the Dow Jones Industrial also saw a positive session, up 0.90% today.

An evaluation of the daily trading volume of Pioneer Natural Resources Company (NYSE:PXD) indicates that the 3-month average is 2.72 million. However, this figure has increased over the past 10 days to an average of 1.91 million.

Currently, records show that 243.00 million of the company’s shares remain outstanding. The insiders hold 0.40% of outstanding shares, whereas institutions hold 92.90%. The stats also highlight that short interest as of Jul 14, 2022, stood at 5.43 million shares, resulting in a short ratio of 1.6 at that time. From this, we can conclude that short interest is 2.25% of the company’s total outstanding shares. It is noteworthy that short shares in July were down slightly from the previous month’s figure, which was 5.98 million. However, since the stock’s price has seen 30.06% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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