$112.35 Million in Sales Expected for Pioneer Energy Services Corp. (PES) This Quarter

Brokerages expect Pioneer Energy Services Corp. (NYSE:PES) to report $112.35 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Pioneer Energy Services Corp.’s earnings, with estimates ranging from $110.60 million to $114.10 million. Pioneer Energy Services Corp. posted sales of $68.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 64.4%. The business is expected to announce its next earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that Pioneer Energy Services Corp. will report full year sales of $112.35 million for the current fiscal year, with estimates ranging from $410.10 million to $443.90 million. For the next year, analysts forecast that the firm will report sales of $544.07 million per share, with estimates ranging from $537.50 million to $552.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Pioneer Energy Services Corp..

Pioneer Energy Services Corp. (NYSE:PES) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. Pioneer Energy Services Corp. had a negative return on equity of 28.63% and a negative net margin of 33.86%. The firm had revenue of $107.13 million for the quarter, compared to analysts’ expectations of $105.23 million. During the same period last year, the firm earned ($0.30) EPS. Pioneer Energy Services Corp.’s revenue was up 72.0% compared to the same quarter last year.

A number of analysts recently weighed in on PES shares. Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Thursday, July 6th. Piper Jaffray Companies restated a “buy” rating and set a $2.75 target price on shares of Pioneer Energy Services Corp. in a report on Thursday, August 3rd. Deutsche Bank AG restated a “hold” rating and set a $6.00 target price (down from $7.00) on shares of Pioneer Energy Services Corp. in a report on Tuesday, May 30th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Pioneer Energy Services Corp. in a research note on Wednesday, August 2nd. Finally, ValuEngine raised shares of Pioneer Energy Services Corp. from a “strong sell” rating to a “sell” rating in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.19.

Shares of Pioneer Energy Services Corp. (NYSE:PES) opened at 2.15 on Wednesday. Pioneer Energy Services Corp. has a 1-year low of $1.70 and a 1-year high of $7.20. The company has a 50-day moving average price of $2.15 and a 200-day moving average price of $3.71. The stock’s market cap is $166.36 million.

In other news, CEO Stacy Locke acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average price of $2.74 per share, with a total value of $68,500.00. Following the purchase, the chief executive officer now owns 961,267 shares of the company’s stock, valued at approximately $2,633,871.58. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.05% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PES. KBC Group NV increased its stake in Pioneer Energy Services Corp. by 59.5% in the first quarter. KBC Group NV now owns 248,741 shares of the oil and gas company’s stock worth $995,000 after buying an additional 92,756 shares during the last quarter. Nordea Investment Management AB increased its stake in Pioneer Energy Services Corp. by 23.8% in the first quarter. Nordea Investment Management AB now owns 205,100 shares of the oil and gas company’s stock worth $820,000 after buying an additional 39,400 shares during the last quarter. Trexquant Investment LP increased its stake in Pioneer Energy Services Corp. by 276.9% in the first quarter. Trexquant Investment LP now owns 109,303 shares of the oil and gas company’s stock worth $437,000 after buying an additional 80,300 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Pioneer Energy Services Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 71,995 shares of the oil and gas company’s stock worth $288,000 after buying an additional 10,865 shares during the last quarter. Finally, Phoenix Investment Adviser LLC increased its stake in Pioneer Energy Services Corp. by 137.6% in the first quarter. Phoenix Investment Adviser LLC now owns 318,902 shares of the oil and gas company’s stock worth $1,276,000 after buying an additional 184,703 shares during the last quarter. Institutional investors own 80.27% of the company’s stock.

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Pioneer Energy Services Corp. Company Profile

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

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