FY2018 Earnings Estimate for Pioneer Energy Services Corp Issued By Imperial Capital (PES)

Pioneer Energy Services Corp (NYSE:PES) – Equities research analysts at Imperial Capital lifted their FY2018 earnings estimates for shares of Pioneer Energy Services in a research report issued to clients and investors on Wednesday, October 31st. Imperial Capital analyst J. Wangler now forecasts that the oil and gas company will earn ($0.51) per share for the year, up from their previous forecast of ($0.53). Imperial Capital currently has a “In-Line” rating and a $3.00 price target on the stock. Imperial Capital also issued estimates for Pioneer Energy Services’ Q4 2018 earnings at ($0.16) EPS and FY2019 earnings at ($0.31) EPS.

Pioneer Energy Services (NYSE:PES) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. Pioneer Energy Services had a negative return on equity of 19.97% and a negative net margin of 8.19%. The company had revenue of $149.33 million for the quarter, compared to analysts’ expectations of $149.27 million.

PES has been the topic of several other reports. ValuEngine cut Pioneer Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Piper Jaffray Companies set a $4.00 price objective on Pioneer Energy Services and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research cut Pioneer Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Wells Fargo & Co set a $3.00 price objective on Pioneer Energy Services and gave the stock a “hold” rating in a research note on Monday, October 15th. Finally, Jefferies Financial Group cut Pioneer Energy Services from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research note on Tuesday, July 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Pioneer Energy Services presently has an average rating of “Hold” and a consensus price target of $4.14.

Shares of NYSE PES opened at $3.06 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.95 and a debt-to-equity ratio of 2.60. Pioneer Energy Services has a 1-year low of $1.90 and a 1-year high of $6.35. The company has a market cap of $231.51 million, a price-to-earnings ratio of -4.37 and a beta of 2.93.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of Pioneer Energy Services by 77.1% in the first quarter. Wells Fargo & Company MN now owns 208,884 shares of the oil and gas company’s stock valued at $563,000 after purchasing an additional 90,968 shares during the period. BlackRock Inc. boosted its holdings in shares of Pioneer Energy Services by 3.6% in the first quarter. BlackRock Inc. now owns 10,913,123 shares of the oil and gas company’s stock valued at $29,466,000 after purchasing an additional 375,824 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Pioneer Energy Services by 7.9% in the first quarter. California Public Employees Retirement System now owns 703,739 shares of the oil and gas company’s stock valued at $1,900,000 after purchasing an additional 51,339 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Pioneer Energy Services by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,353,554 shares of the oil and gas company’s stock valued at $17,155,000 after purchasing an additional 273,017 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Pioneer Energy Services by 0.9% in the first quarter. Principal Financial Group Inc. now owns 1,371,587 shares of the oil and gas company’s stock valued at $3,703,000 after purchasing an additional 11,808 shares during the period. 75.35% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director C John Thompson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $3.37, for a total transaction of $50,550.00. Following the transaction, the director now owns 51,476 shares of the company’s stock, valued at $173,474.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 23,000 shares of company stock worth $78,250. Insiders own 6.05% of the company’s stock.

About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies in the United States and Colombia. The company offers contract land drilling services in the Marcellus/Utica, Eagle Ford, Permian Basin, and Bakken regions, as well as in Colombia.

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

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