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%.

Other equities research analysts also recently issued reports about the stock. Imperial Capital reiterated an “in-line” rating and set a $3.00 price target on shares of Pioneer Energy Services in a report on Thursday. Piper Jaffray Companies set a $4.00 target price on shares of Pioneer Energy Services and gave the company a “buy” rating in a report on Wednesday, October 3rd. Wells Fargo & Co restated a “hold” rating on shares of Pioneer Energy Services in a report on Tuesday, December 11th. Zacks Investment Research upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, ValuEngine downgraded shares of Pioneer Energy Services from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.61.

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

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