Brokerages expect Pioneer Energy Services (NYSE:PES) to post earnings per share of ($0.13) for the current quarter, according to Zacks. Five analysts have provided estimates for Pioneer Energy Services’ earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.16). Pioneer Energy Services reported earnings per share of ($0.20) during the same quarter last year, which suggests a positive year over year growth rate of 35%. The firm is expected to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Pioneer Energy Services will report full year earnings of ($0.38) per share for the current fiscal year, with EPS estimates ranging from ($0.45) to ($0.29). For the next year, analysts expect that the firm will report earnings of ($0.12) per share, with EPS estimates ranging from ($0.30) to $0.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Pioneer Energy Services.
Pioneer Energy Services (NYSE:PES) last posted its quarterly earnings results on Friday, February 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). Pioneer Energy Services had a negative net margin of 16.83% and a negative return on equity of 23.31%. The firm had revenue of $126.29 million for the quarter, compared to analysts’ expectations of $125.99 million. During the same period last year, the firm posted ($0.34) EPS. Pioneer Energy Services’s revenue was up 76.7% on a year-over-year basis.
PES has been the subject of a number of research reports. Seaport Global Securities raised Pioneer Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded Pioneer Energy Services from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Jefferies Group set a $4.00 target price on Pioneer Energy Services and gave the stock a “buy” rating in a research report on Monday, February 26th. ValuEngine downgraded Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Pioneer Energy Services in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Pioneer Energy Services has an average rating of “Hold” and an average target price of $3.67.
PES stock traded down $0.03 during trading on Friday, reaching $2.92. 59,221 shares of the stock traded hands, compared to its average volume of 723,780. Pioneer Energy Services has a 52-week low of $1.60 and a 52-week high of $4.15. The company has a current ratio of 2.54, a quick ratio of 2.37 and a debt-to-equity ratio of 2.20. The company has a market cap of $221.71, a PE ratio of -4.17 and a beta of 2.95.
In other news, Director C John Thompson sold 25,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $2.94, for a total value of $73,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 31,015 shares of company stock valued at $91,805 in the last ninety days. Company insiders own 6.05% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of PES. Two Sigma Securities LLC purchased a new position in Pioneer Energy Services in the fourth quarter valued at about $102,000. Crossmark Global Holdings Inc. boosted its holdings in Pioneer Energy Services by 275.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 61,006 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 44,763 shares during the last quarter. Citadel Advisors LLC purchased a new position in Pioneer Energy Services in the third quarter valued at about $188,000. Two Sigma Investments LP purchased a new position in Pioneer Energy Services in the fourth quarter valued at about $241,000. Finally, Virtu Financial LLC purchased a new position in Pioneer Energy Services in the fourth quarter valued at about $387,000. 73.47% of the stock is owned by hedge funds and other institutional investors.
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About Pioneer Energy Services
Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies in the United States and Colombia. The company offers contract land drilling services in the Marcellus/Utica, Eagle Ford, Permian Basin, and Bakken regions, as well as in Colombia.
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