Home
News
- 1 In the most recent trading session, PXD stock price showed a bearish outlook.
- 2 In its weekly price analysis, PXD share price witnessed bullishness.
Pioneer Natural Resources Co. is soon going to release its Q2 2023 report ahead of which PXD stock price showed a mixed outlook. The weekly price analysis of the stock noted almost a surge of 4%, whereas, on its most recent day of trading, the stock price showed a 3% decline. This price performance is clearly showing volatility in PXD share price, which can be due to the company about to release its Q2 2023 report earlier next month.
PXD Stock Price Analysis
PXD stock price opened at $213.61, noted high at $213.78, and low at $208.13 on July 14, 2023, Friday. Near the weekend, PXD share price started accumulating bears which dropped the stock price. Meanwhile, the closing price of the stock was noted at $208.92 on Friday’s trading session as PXD share price lost $6.31 with a 2.93% of price decline. Moreover, the 52-week high noted by the stock was $274.70, and the low was $177.26.
As shown in the above price chart, PXD stock price closed above its 20 and 50-day moving averages. Whereas, in the recent 2-days of trading, PXD share price accumulated bears due to which the stock price dropped down. However, at the beginning of this week, bulls have shown their dominance which brought its price near to its 200-day moving average.
Additionally, the RSI of PXD share took an upside ride and now slid down due to bears’ major support earlier this week. It must be noted that Pioneer Natural Resources Co. will release its Q2 2023 reports on August 1, 2023. More price fluctuations can be expected in the upcoming two weeks. Although, near its Q1 2023 report, released in late April 2023, the stock price was trading nearly at $223.00.
According to the analyst’s forecast, they have set their 1-year price target at $249.75, which is over 19% up from the recent closing price of PXD stock. According to the recent closing price of PXD shares, the analysts’ price target added $40.83. Also, their maximum estimate is resting at $315.00 while the minimum estimate is $215.00, as seen in the above chart.
The Financial Update of Pioneer Natural Resources Co.
Pioneer Natural Resources Co. (NYSE: PXD), is an American large independent oil and gas exploration and production company, that has a market cap of nearly $48.83 Billion. On April 26, 2023, the company released its Q1 2023 earnings and revenue report. According to this, its net income in the quarter is $1.22 Billion and PXD price-to-sales ratio is 2.30. The company has an Enterprise Value to EBITDA ratio of 4.62.
In Q1 2022, the reported EPS of Pioneer Natural Resources was $5.21 while the estimate was $4.86 which accounts for a 7.24% surprise. The company’s revenue for the same quarter amounts to $4.54 Billion despite the estimate of $4.89 Billion. The estimated earnings for the next quarter are $4.43 and the revenue is expected to reach $4.76 Billion in Q2 2023.
For 2022, the revenue report of Pioneer Natural Resources Company amounted to $24.29 Billion. Out of which, nearly $12.29 Billion came from its highest-performing source at the moment, oil. Notably, the U.S. has made the greatest contribution to the revenue figure in the last year which brought Pioneer Natural Resources Company to $24.38 Billion.
Furthermore, the major holders of the company include over 90% of PXD shares that are held by institutions. Meanwhile, Vanguard Group, Inc., Blackrock Inc., and State Street Corporation are 3-leading institutional holders of Pioneer Natural Resources Company, according to Yahoo Finance, the U.S.-based business news platform.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
