Pioneer Energy Services Corp (NYSE:PES) – Investment analysts at Seaport Global Securities upped their FY2018 earnings per share estimates for Pioneer Energy Services in a note issued to investors on Tuesday, October 30th. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will post earnings per share of ($0.49) for the year, up from their prior forecast of ($0.52). Seaport Global Securities currently has a “Buy” rating and a $5.00 target price on the stock. Seaport Global Securities also issued estimates for Pioneer Energy Services’ Q4 2018 earnings at ($0.14) EPS, Q1 2019 earnings at ($0.16) EPS, Q2 2019 earnings at ($0.05) EPS, Q4 2019 earnings at $0.03 EPS, FY2019 earnings at ($0.13) EPS, Q1 2020 earnings at ($0.04) EPS and Q3 2020 earnings at $0.12 EPS.
A number of other equities analysts have also commented on PES. ValuEngine raised shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research lowered shares of Pioneer Energy Services from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. Wells Fargo & Co set a $3.00 target price on shares of Pioneer Energy Services and gave the stock a “hold” rating in a research report on Monday, October 15th. Piper Jaffray Companies set a $4.00 price objective on shares of Pioneer Energy Services and gave the company a “buy” rating in a report on Wednesday, October 3rd. Finally, Imperial Capital set a $3.00 price objective on shares of Pioneer Energy Services and gave the company an “in-line” rating in a report on Friday, September 28th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.14.
Pioneer Energy Services stock opened at $3.06 on Friday. The stock has a market capitalization of $231.51 million, a P/E ratio of -4.37 and a beta of 2.93. Pioneer Energy Services has a 1-year low of $1.90 and a 1-year high of $6.35. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.95 and a current ratio of 2.16.
Pioneer Energy Services (NYSE:PES) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.07. Pioneer Energy Services had a negative net margin of 8.19% and a negative return on equity of 19.97%. The company had revenue of $149.33 million for the quarter, compared to analyst estimates of $149.27 million.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in 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 acquiring an additional 375,824 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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 acquiring an additional 11,808 shares in the last quarter. Millennium Management LLC boosted its stake in Pioneer Energy Services by 4,813.7% in the second quarter. Millennium Management LLC now owns 1,048,083 shares of the oil and gas company’s stock valued at $6,131,000 after acquiring an additional 1,026,753 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Pioneer Energy Services in the second quarter valued at approximately $1,341,000. Finally, Bailard Inc. acquired a new stake in Pioneer Energy Services in the second quarter valued at approximately $566,000. Institutional investors own 75.35% of the company’s stock.
In related news, Director C John Thompson sold 15,000 shares of Pioneer Energy Services stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $3.37, for a total transaction of $50,550.00. Following the transaction, the director now directly owns 51,476 shares of the company’s stock, valued at $173,474.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 23,000 shares of company stock worth $78,250. 6.05% of the stock is currently owned by corporate insiders.
Pioneer Energy Services Company Profile
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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