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How Pioneer Natural Resources Stock Reacted to Past Earnings

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Jul. 22 2016, Updated 9:06 a.m. ET

Pioneer Natural Resources’ stock price action

After losing ~56% of its market capitalization from July 2014 to January 2016, Pioneer Natural Resources (PXD) stock is finally showing signs of a new uptrend. In March 2016, the stock crossed its 200-day moving average.

In April 2016, as you can see in the graph below, Pioneer Natural Resources stock made a higher high for the first time in almost two years. Since January 2016, PXD stock has risen a whopping ~52%.

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Pioneer Natural Resources’ relative performance

Recently, PXD has shown a weakness compared to other crude oil (USO) and natural gas (UNG) producers. In the last three months, Pioneer Natural Resources stock has risen ~5%. Compare this with the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which rose ~6% during the same period.

Pioneer Natural Resources’ year-to-date performance

For 2016, Pioneer Natural Resources is outperforming larger upstream companies in the S&P 500 (SPY). For 2016, PXD has risen ~25%. Larger oil and gas producers such as Occidental Petroleum (OXY), Devon Energy (DVN), and EOG Resources (EOG) have risen ~17%, ~21%, and ~20%, respectively.

Pioneer Natural Resources stock performance after past earnings

Pioneer Natural Resources reported its 1Q16 earnings after the Market closed on April 25, 2016. In 1Q16, excluding one-time items, the company reported a loss of $0.64 per share. That’s $0.09 better than the consensus for loss of $0.73 per share.

Following the earnings release, better-than-expected earnings saw PXD stock increase ~12% in two sessions.

PXD reported its 4Q15 earnings after the Market closed on February 10, 2016. In 4Q15, excluding one-time items, PXD reported a loss of $0.18 per share. That was $0.15 better than the consensus for a loss of $0.33 per share. Following the earnings release, better-than-expected earnings saw PXD stock rise ~16% in seven sessions.

For 3Q15 earnings, PXD reported a loss of $0.01 per share. That was $0.04 better than the consensus for a loss of $0.05 per share. Following the earnings release, better-than-expected earnings saw PXD stock rise ~6% in the next session.

A similar upward reaction was seen after the company’s 2Q15 earnings. PXD stock rose ~5% in seven sessions after beating the consensus earnings estimate by $0.07 per share.

Contrary to the above, PXD’s 1Q15 and 4Q14 post-earnings reactions were negative, mainly due to worse-than-consensus earnings reports.

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