Pioneer Energy Services Corp (NYSE:PES) Expected to Post Quarterly Sales of $151.54 Million

Equities analysts expect that Pioneer Energy Services Corp (NYSE:PES) will post $151.54 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Pioneer Energy Services’ earnings. The highest sales estimate is $157.10 million and the lowest is $148.75 million. Pioneer Energy Services reported sales of $154.78 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.1%. The firm is scheduled to issue its next earnings report on Tuesday, July 30th.

On average, analysts expect that Pioneer Energy Services will report full-year sales of $612.50 million for the current financial year, with estimates ranging from $589.94 million to $632.80 million. For the next fiscal year, analysts expect that the firm will report sales of $657.45 million, with estimates ranging from $609.65 million to $705.72 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Pioneer Energy Services.

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

Several equities research analysts recently commented on the stock. Imperial Capital reduced their price target on shares of Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating for the company in a research report on Thursday, May 30th. Piper Jaffray Companies downgraded shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research report on Thursday, June 27th. Finally, ValuEngine upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.19.

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its position in Pioneer Energy Services by 92.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,993 shares of the oil and gas company’s stock worth $30,000 after buying an additional 8,184 shares in the last quarter. SG Americas Securities LLC lifted its position in Pioneer Energy Services by 60.4% in the 1st quarter. SG Americas Securities LLC now owns 32,923 shares of the oil and gas company’s stock worth $58,000 after buying an additional 12,392 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in Pioneer Energy Services by 11.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 238,420 shares of the oil and gas company’s stock worth $293,000 after buying an additional 23,582 shares in the last quarter. California Public Employees Retirement System lifted its position in Pioneer Energy Services by 28.6% in the 4th quarter. California Public Employees Retirement System now owns 121,614 shares of the oil and gas company’s stock worth $150,000 after buying an additional 27,020 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Pioneer Energy Services in the 4th quarter worth approximately $37,000. Institutional investors own 72.40% of the company’s stock.

PES stock traded up $0.04 on Wednesday, hitting $0.27. 181,938 shares of the company’s stock traded hands, compared to its average volume of 2,067,281. Pioneer Energy Services has a 1-year low of $0.21 and a 1-year high of $5.95. The firm has a market cap of $19.94 million, a PE ratio of -0.52 and a beta of 3.27. The stock’s fifty day moving average is $0.32. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.80 and a current ratio of 1.99.

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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