Analysts predict that Pioneer Energy Services Corp (NYSE:PES) will report $150.97 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Pioneer Energy Services’ earnings, with estimates ranging from $148.00 million to $157.10 million. Pioneer Energy Services reported sales of $154.78 million in the same quarter last year, which indicates a negative year over year growth rate of 2.5%. The business is expected to announce its next quarterly earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Pioneer Energy Services will report full-year sales of $611.30 million for the current fiscal year, with estimates ranging from $588.00 million to $632.80 million. For the next year, analysts forecast that the company will post sales of $658.86 million, with estimates ranging from $605.00 million to $705.72 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Pioneer Energy Services.

Pioneer Energy Services (NYSE:PES) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. The business had revenue of $146.57 million during the quarter, compared to analyst estimates of $143.93 million. Pioneer Energy Services had a negative return on equity of 26.33% and a negative net margin of 8.95%.

Separately, ValuEngine upgraded Pioneer Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.44.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Pioneer Energy Services by 2.8% during the 1st quarter. BlackRock Inc. now owns 11,641,979 shares of the oil and gas company’s stock worth $20,605,000 after acquiring an additional 314,859 shares during the period. Macquarie Group Ltd. boosted its stake in Pioneer Energy Services by 17.4% in the 4th quarter. Macquarie Group Ltd. now owns 6,783,848 shares of the oil and gas company’s stock worth $8,344,000 after purchasing an additional 1,004,338 shares during the period. Vanguard Group Inc boosted its stake in Pioneer Energy Services by 6.3% in the 3rd quarter. Vanguard Group Inc now owns 4,539,648 shares of the oil and gas company’s stock worth $13,392,000 after purchasing an additional 269,201 shares during the period. Vanguard Group Inc. boosted its stake in Pioneer Energy Services by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,539,648 shares of the oil and gas company’s stock worth $13,392,000 after purchasing an additional 269,201 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Pioneer Energy Services by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 812,842 shares of the oil and gas company’s stock worth $999,000 after purchasing an additional 48,553 shares during the period. Hedge funds and other institutional investors own 72.26% of the company’s stock.

NYSE PES traded up $0.06 on Friday, reaching $0.70. The company had a trading volume of 7,363 shares, compared to its average volume of 690,090. The firm has a market capitalization of $62.00 million, a P/E ratio of -1.35 and a beta of 2.99. Pioneer Energy Services has a 52-week low of $0.62 and a 52-week high of $6.35. The company has a current ratio of 1.99, a quick ratio of 1.80 and a debt-to-equity ratio of 3.13.

About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies. It provides contract land drilling services in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, as well as in Colombia. The company operates 16 AC rigs in the United States and 8 SCR rigs in Colombia.

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Earnings History and Estimates for Pioneer Energy Services (NYSE:PES)

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