Pioneer Energy Services (PES) Posts Earnings Results, Misses Expectations By $0.03 EPS
Pioneer Energy Services (NYSE:PES) released its quarterly earnings data on Friday. 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), Bloomberg Earnings reports. Pioneer Energy Services had a negative net margin of 25.19% and a negative return on equity of 26.46%. The business had revenue of $126.29 million during the quarter, compared to analyst estimates of $125.99 million. During the same period in the previous year, the business earned ($0.34) earnings per share. The business’s quarterly revenue was up 76.7% on a year-over-year basis.
Pioneer Energy Services (PES) traded down $0.15 during trading hours on Friday, reaching $2.75. The company had a trading volume of 463,770 shares, compared to its average volume of 867,267. The company has a quick ratio of 1.61, a current ratio of 1.75 and a debt-to-equity ratio of 1.77. Pioneer Energy Services has a 1-year low of $1.60 and a 1-year high of $6.40.
A number of research firms have recently issued reports on PES. Zacks Investment Research raised Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Thursday, January 18th. Capital One Financial reissued an “overweight” rating on shares of Pioneer Energy Services in a report on Friday. ValuEngine raised Pioneer Energy Services from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Jefferies Group reissued a “buy” rating and set a $3.00 price target on shares of Pioneer Energy Services in a report on Friday, November 10th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Pioneer Energy Services in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.00.
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Pioneer Energy Services Company Profile
Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.
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