Pioneer Energy Services Corp. (PES) to Post Q2 2019 Earnings of $0.00 Per Share, Seaport Global Securities Forecasts

Pioneer Energy Services Corp. (NYSE:PES) – Equities research analysts at Seaport Global Securities upped their Q2 2019 earnings per share estimates for Pioneer Energy Services Corp. in a report issued on Monday. Seaport Global Securities analyst S. Randhawa now anticipates that the oil and gas company will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.01). Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Pioneer Energy Services Corp.’s Q3 2019 earnings at $0.01 EPS.

A number of other brokerages also recently issued reports on PES. Zacks Investment Research downgraded Pioneer Energy Services Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, October 7th. ValuEngine downgraded Pioneer Energy Services Corp. from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “buy” rating and set a $3.00 price objective on shares of Pioneer Energy Services Corp. in a research report on Friday. Goldman Sachs Group, Inc. (The) downgraded Pioneer Energy Services Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $2.75 price objective on shares of Pioneer Energy Services Corp. in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.69.

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Shares of Pioneer Energy Services Corp. (PES) remained flat at $$2.20 during trading hours on Tuesday. The stock had a trading volume of 200,700 shares, compared to its average volume of 991,082. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77. Pioneer Energy Services Corp. has a fifty-two week low of $1.60 and a fifty-two week high of $7.20.

Pioneer Energy Services Corp. (NYSE:PES) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $117.28 million for the quarter, compared to analyst estimates of $114.82 million. Pioneer Energy Services Corp. had a negative return on equity of 26.46% and a negative net margin of 25.19%. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP grew its position in Pioneer Energy Services Corp. by 16.0% in the 3rd quarter. Royce & Associates LP now owns 410,100 shares of the oil and gas company’s stock valued at $1,046,000 after acquiring an additional 56,600 shares in the last quarter. Van Den Berg Management I Inc. grew its position in Pioneer Energy Services Corp. by 3.0% in the 3rd quarter. Van Den Berg Management I Inc. now owns 6,918,334 shares of the oil and gas company’s stock valued at $17,642,000 after acquiring an additional 204,335 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Pioneer Energy Services Corp. by 28.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,217,052 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 268,766 shares in the last quarter. Wells Fargo & Company MN grew its position in Pioneer Energy Services Corp. by 58.4% in the 3rd quarter. Wells Fargo & Company MN now owns 212,175 shares of the oil and gas company’s stock valued at $540,000 after acquiring an additional 78,212 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in Pioneer Energy Services Corp. in the 3rd quarter valued at about $188,000. 73.85% of the stock is owned by institutional investors.

Pioneer Energy Services Corp. 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.

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

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