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Apr 25, 2023

Pioneer Natural Resources Co (PXD) Earnings Forecast: Stochastic Oscillator Indicates Potential Bearish Move

This AI trading robot, available at Swing Trader: Sector Rotation Strategy (TA&FA), was a top performer in our robot factory, generating 11% for PXD  over the past 6 months.

Pioneer Natural Resource Co (NYSE: PXD), currently trading at $225.48, is scheduled to announce its earnings forecast on Wednesday, April 26, 2023. Recent technical analysis shows that the stock's Stochastic Oscillator moved out of overbought territory on April 21, 2023, potentially indicating a bearish future for the stock. As investors prepare for the upcoming earnings announcement, they may want to consider selling or taking a defensive position based on historical trends and technical indicators.

Stochastic Oscillator Analysis: The Stochastic Oscillator is a popular momentum indicator that compares a stock's closing price to its price range over a specific period of time. When the oscillator moves above 80, it indicates that the stock is overbought and could be due for a price correction. Conversely, when it moves below 20, the stock is considered oversold and may experience a price increase.

For PXD, the Stochastic Oscillator recently moved out of the overbought territory on April 21, 2023. This could be interpreted as a bearish signal for the stock, and investors might want to consider selling or taking a defensive position in response to this development.

Historical Analysis: A.I.dvisor, a financial analysis platform, examined 68 similar instances in which the Stochastic Oscillator for PXD exited the overbought zone. The stock moved lower in 55 of those 68 cases, putting the odds of a downward move at 81%. This historical data, combined with the recent shift in the Stochastic Oscillator, could lead investors to take a more cautious approach with PXD ahead of the earnings announcement.

Upcoming Earnings Forecast: The upcoming earnings forecast for Pioneer Natural Resources Co on April 26, 2023, will likely have a significant impact on the stock's performance in the short term. Investors should carefully monitor the results and any guidance provided by the company to make informed decisions about their positions in PXD.

As Pioneer Natural Resources Co (PXD) prepares to release its earnings forecast on April 26, 2023, the recent shift in the Stochastic Oscillator out of overbought territory could be a bearish sign for the stock. Based on historical analysis, there is an 81% chance that the stock will move lower following this development. Investors may want to consider selling or taking a defensive position in anticipation of a potential downward move in the stock price.

Related Ticker: PXD

Notable companies

The most notable companies in this group are ConocoPhillips (NYSE:COP), Canadian Natural Resources Limited (NYSE:CNQ), EOG Resources (NYSE:EOG), Pioneer Natural Resource Co (null:PXD), Occidental Petroleum Corp (NYSE:OXY), Hess Corp (NYSE:HES), Diamondback Energy (NASDAQ:FANG), Devon Energy Corp (NYSE:DVN), EQT Corp (NYSE:EQT), Marathon Oil Corp (NYSE:MRO).

Industry description

The oil and gas production segment includes companies that specialize in exploration, development, and production of oil and natural gas. These companies are focused on upstream operations. Companies typically identify deposits, drill wells, and extract raw materials from underground. The industry also includes related services like rig operations, feasibility studies, machinery rentals etc. Several operators in this industry work with various types of contractors such as engineering procurement and construction contractors, as well as with joint-venture partners and oil field service companies. Oil and gas often involves large fixed costs of production; so, declining crude oil prices, for example, is a potential negative for this industry. Conoco Phillips, EOG Resources, Inc. and Pioneer Natural Resources Company are some examples of companies operating in this space.

Market Cap

The average market capitalization across the Oil & Gas Production Industry is 3.97B. The market cap for tickers in the group ranges from 3.28K to 151.38B. COP holds the highest valuation in this group at 151.38B. The lowest valued company is PSTRQ at 3.28K.

High and low price notable news

The average weekly price growth across all stocks in the Oil & Gas Production Industry was -2%. For the same Industry, the average monthly price growth was -2%, and the average quarterly price growth was 4%. SDXEF experienced the highest price growth at 64%, while PTRVF experienced the biggest fall at -33%.

Volume

The average weekly volume growth across all stocks in the Oil & Gas Production Industry was -1%. For the same stocks of the Industry, the average monthly volume growth was -10% and the average quarterly volume growth was -15%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 53
P/E Growth Rating: 48
Price Growth Rating: 52
SMR Rating: 67
Profit Risk Rating: 75
Seasonality Score: -20 (-100 ... +100)
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A.I.Advisor
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A.I. Advisor
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General Information

an oil and gas exploration and production company

Industry OilGasProduction

Profile
Fundamentals
Details
Industry
Oil And Gas Production
Address
777 Hidden Ridge
Phone
+1 972 444-9001
Employees
2213
Web
https://www.pxd.com
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