Pioneer Energy Services (PES) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Pioneer Energy Services (NYSE:PES) posted its quarterly earnings data on Friday, February 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03), Bloomberg Earnings reports. The firm had revenue of $126.29 million for the quarter, compared to analyst estimates of $125.99 million. Pioneer Energy Services had a negative return on equity of 23.31% and a negative net margin of 16.83%. The firm’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS.
Shares of Pioneer Energy Services (NYSE:PES) opened at $3.15 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 2.37 and a debt-to-equity ratio of 2.20. The stock has a market cap of $244.97, a P/E ratio of -3.25 and a beta of 2.93. Pioneer Energy Services has a 1 year low of $1.60 and a 1 year high of $4.68.
In other news, Director C John Thompson sold 25,000 shares of Pioneer Energy Services stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $2.94, for a total value of $73,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 31,015 shares of company stock valued at $91,805. 6.05% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised 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. Jefferies Group set a $4.00 target price on Pioneer Energy Services and gave the stock a “buy” rating in a report on Monday, February 26th. Seaport Global Securities upgraded Pioneer Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Finally, Capital One Financial restated an “overweight” rating on shares of Pioneer Energy Services in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $4.14.
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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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