Pioneer Natural Resources Company (PXD) and Suncor Energy Inc. (SU) are slated to disclose their fiscal fourth-quarter earnings (ended December 2023) on February 22 and February 21, respectively. Wall Street foresees PXD experiencing a 1.9% year-over-year decrease in fourth-quarter revenue, falling to $5.01 billion. Similarly, its EPS for the same period is expected to decline by 8.8% year-over-year to $5.39.
Likewise, SU is anticipated to see a significant drop in its fourth-quarter revenue, plunging by 8.7% year-over-year to $9.48 billion, with its EPS forecasted to decline by 41.6% year-over-year to $0.79. Given the subdued analyst estimates for the fourth quarter, this article discusses the rationale behind waiting for a more opportune entry point in both PXD and SU.
