Pioneer Energy Services Corp to Post Q3 2019 Earnings of $0.03 Per Share, Seaport Global Securities Forecasts (PES)
Pioneer Energy Services Corp (NYSE:PES) – Stock analysts at Seaport Global Securities lowered their Q3 2019 earnings per share (EPS) estimates for Pioneer Energy Services in a report released on Thursday, January 10th. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will earn $0.03 per share for the quarter, down from their previous estimate of $0.05.
Pioneer Energy Services (NYSE:PES) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.07. The business had revenue of $149.33 million during the quarter, compared to the consensus estimate of $149.27 million. Pioneer Energy Services had a negative net margin of 8.19% and a negative return on equity of 19.97%.
Shares of NYSE PES opened at $1.89 on Friday. The stock has a market cap of $147.04 million, a PE ratio of -2.70 and a beta of 3.05. Pioneer Energy Services has a 12 month low of $1.14 and a 12 month high of $6.35. The company has a quick ratio of 1.97, a current ratio of 2.16 and a debt-to-equity ratio of 2.60.
A number of institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its stake in Pioneer Energy Services by 26.4% during the third quarter. Macquarie Group Ltd. now owns 5,779,510 shares of the oil and gas company’s stock worth $17,050,000 after buying an additional 1,208,762 shares during the period. Millennium Management LLC grew its stake in Pioneer Energy Services by 4,813.7% during the second quarter. Millennium Management LLC now owns 1,048,083 shares of the oil and gas company’s stock worth $6,131,000 after buying an additional 1,026,753 shares during the period. Hennessy Advisors Inc. purchased a new stake in Pioneer Energy Services during the third quarter worth approximately $1,820,000. Renaissance Technologies LLC purchased a new stake in Pioneer Energy Services during the second quarter worth approximately $2,943,000. Finally, Bridgeway Capital Management Inc. grew its stake in Pioneer Energy Services by 66.7% during the third quarter. Bridgeway Capital Management Inc. now owns 1,017,500 shares of the oil and gas company’s stock worth $3,002,000 after buying an additional 407,200 shares during the period. Hedge funds and other institutional investors own 73.82% of the company’s stock.
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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