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How PXD’s Stock Price Has Reacted after Past Earnings Misses

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Pioneer Natural Resources’ stock price action following its 3Q16 earnings

Pioneer Natural Resources (PXD) announced its 3Q16 earnings after the market closed on November 1, 2016. After its 3Q16 earnings were announced, Pioneer Natural Resources’ stock price fell ~4% in two trading sessions.

In the three months leading up to its earnings, Pioneer Natural Resources’ stock price has rose ~43%, despite flat crude oil (USO) (UWTI) (DWTI) prices during the same period.

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PXD’s stock price behavior after past earnings misses

Out of the last seven quarters, PXD missed its earnings expectations in 1Q15 and 4Q14. PXD’s 1Q15 and 4Q14 post-earnings reactions were negative, mainly due to the worse-than-expected earnings reports.

PXD’s 2016 relative performance

For 2016, PXD is outperforming bigger upstream companies from the SPDR S&P 500 (SPY). For 2016, PXD has risen ~38%, whereas larger oil and gas producers Devon Energy (DVN), Marathon Oil (MRO), and EOG Resources (EOG) have risen ~28%, ~14%, and ~31%, respectively.

Pioneer Natural Resources’ stock price trend change

After losing ~56% of its market capitalization from July 2014 to January 2016, Pioneer Natural Resources’ stock price is finally showing signs of a new uptrend. In March 2016, PXD’s stock price crossed over its 200-day moving average, and in April 2016, its stock price saw a new high for the first time in almost two years. Since its January 2016 bottom, Pioneer Natural Resources’ stock price has risen ~67%.

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