Pioneer Energy Services Corp (NYSE:PES) – Investment analysts at Seaport Global Securities increased their FY2019 earnings estimates for shares of Pioneer Energy Services in a report released on Monday, Zacks Investment Research reports. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas company will earn $0.03 per share for the year, up from their prior forecast of $0.02. Seaport Global Securities has a “Buy” rating on the stock.
Other analysts also recently issued research reports about the company. Jefferies Group set a $4.00 price target on Pioneer Energy Services and gave the company a “buy” rating in a research note on Monday, February 26th. Zacks Investment Research upgraded Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Wednesday, January 10th. ValuEngine downgraded Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Capital One Financial reiterated an “overweight” rating on shares of Pioneer Energy Services in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Pioneer Energy Services presently has an average rating of “Hold” and an average target price of $4.14.
Shares of Pioneer Energy Services (NYSE:PES) traded down $0.05 during trading hours on Tuesday, reaching $3.10. The company had a trading volume of 136,372 shares, compared to its average volume of 800,277. Pioneer Energy Services has a 12 month low of $1.60 and a 12 month high of $4.68. The firm has a market cap of $245.05, a price-to-earnings ratio of -3.20 and a beta of 2.94. The company has a quick ratio of 2.37, a current ratio of 2.54 and a debt-to-equity ratio of 2.20.
Pioneer Energy Services (NYSE:PES) last announced its earnings results on Friday, February 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). Pioneer Energy Services had a negative net margin of 16.83% and a negative return on equity of 23.31%. The business had revenue of $126.29 million for the quarter, compared to analyst estimates of $125.99 million. During the same period in the prior year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 76.7% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in Pioneer Energy Services by 0.7% in the 4th quarter. BlackRock Inc. now owns 10,537,299 shares of the oil and gas company’s stock worth $32,139,000 after purchasing an additional 70,918 shares during the period. Van Den Berg Management I Inc. raised its holdings in Pioneer Energy Services by 8.6% in the 4th quarter. Van Den Berg Management I Inc. now owns 7,515,234 shares of the oil and gas company’s stock worth $22,921,000 after purchasing an additional 596,900 shares during the period. Macquarie Group Ltd. raised its holdings in Pioneer Energy Services by 11.4% in the 4th quarter. Macquarie Group Ltd. now owns 3,832,657 shares of the oil and gas company’s stock worth $11,690,000 after purchasing an additional 391,970 shares during the period. Vanguard Group Inc. raised its holdings in Pioneer Energy Services by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,797,501 shares of the oil and gas company’s stock worth $7,785,000 after purchasing an additional 134,045 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Pioneer Energy Services by 24.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,516,789 shares of the oil and gas company’s stock worth $4,627,000 after purchasing an additional 299,737 shares during the period. Hedge funds and other institutional investors own 73.47% of the company’s stock.
In other news, Director C John Thompson sold 25,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $2.94, for a total value of $73,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 31,015 shares of company stock worth $91,805. Company insiders own 6.05% of the company’s stock.
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About Pioneer Energy Services
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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