Pioneer Energy Services (PES) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

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Pioneer Energy Services (NYSE:PES) issued its earnings results on Tuesday. 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, MarketWatch Earnings reports. The business had revenue of $149.33 million for the quarter, compared to analysts’ expectations of $149.27 million. Pioneer Energy Services had a negative return on equity of 19.97% and a negative net margin of 8.19%.

PES traded up $0.55 during trading hours on Thursday, reaching $3.52. The company’s stock had a trading volume of 382,754 shares, compared to its average volume of 603,390. Pioneer Energy Services has a fifty-two week low of $1.83 and a fifty-two week high of $6.35. The stock has a market capitalization of $231.51 million, a PE ratio of -5.03 and a beta of 2.93. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.95 and a current ratio of 2.16.

In related news, Director C John Thompson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $3.30, for a total value of $33,000.00. Following the transaction, the director now directly owns 51,476 shares in the company, valued at $169,870.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 33,000 shares of company stock worth $111,250 over the last quarter. 6.05% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on PES. Jefferies Financial Group cut Pioneer Energy Services from a “buy” rating to a “hold” rating and set a $6.00 target price on the stock. in a report on Tuesday, July 10th. Zacks Investment Research cut Pioneer Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. ValuEngine cut Pioneer Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Seaport Global Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of Pioneer Energy Services in a report on Wednesday, August 1st. Finally, Stifel Nicolaus assumed coverage on Pioneer Energy Services in a report on Monday, September 10th. They issued a “hold” rating and a $3.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.14.

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 for Pioneer Energy Services (NYSE:PES)

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