$126.12 Million in Sales Expected for Pioneer Energy Services Corp (PES) This Quarter

Equities analysts predict that Pioneer Energy Services Corp (NYSE:PES) will post sales of $126.12 million for the current quarter, according to Zacks. Five analysts have issued estimates for Pioneer Energy Services’ earnings, with the highest sales estimate coming in at $127.00 million and the lowest estimate coming in at $125.60 million. Pioneer Energy Services posted sales of $71.48 million during the same quarter last year, which would indicate a positive year over year growth rate of 76.4%. The business is scheduled to report its next quarterly earnings results before the market opens on Friday, February 16th.

On average, analysts expect that Pioneer Energy Services will report full year sales of $126.12 million for the current financial year, with estimates ranging from $445.70 million to $448.00 million. For the next fiscal year, analysts expect that the business will report sales of $569.38 million per share, with estimates ranging from $525.90 million to $609.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Pioneer Energy Services.

A number of brokerages have issued reports on PES. Zacks Investment Research raised shares of Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Wednesday, January 10th. ValuEngine cut shares of Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday. Jefferies Group reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Pioneer Energy Services in a research note on Friday, November 10th. Seaport Global Securities reaffirmed a “buy” rating on shares of Pioneer Energy Services in a research note on Thursday, January 18th. Finally, Wells Fargo & Co cut shares of Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $4.56.

Shares of Pioneer Energy Services (PES) opened at $3.05 on Tuesday. Pioneer Energy Services has a fifty-two week low of $1.60 and a fifty-two week high of $6.65. The firm has a market cap of $252.59, a P/E ratio of -2.28 and a beta of 2.92. The company has a quick ratio of 1.61, a current ratio of 1.75 and a debt-to-equity ratio of 1.77.

Several hedge funds and other institutional investors have recently made changes to their positions in PES. Balyasny Asset Management LLC boosted its position in shares of Pioneer Energy Services by 390.0% during the second quarter. Balyasny Asset Management LLC now owns 2,088,468 shares of the oil and gas company’s stock worth $4,281,000 after purchasing an additional 1,662,241 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Pioneer Energy Services by 67.1% during the third quarter. Macquarie Group Ltd. now owns 3,440,687 shares of the oil and gas company’s stock worth $8,774,000 after purchasing an additional 1,382,209 shares in the last quarter. FMR LLC bought a new position in shares of Pioneer Energy Services during the second quarter worth $1,584,000. Schwab Charles Investment Management Inc. boosted its position in shares of Pioneer Energy Services by 24.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,516,789 shares of the oil and gas company’s stock worth $4,627,000 after purchasing an additional 299,737 shares in the last quarter. Finally, Van Den Berg Management I Inc. boosted its position in shares of Pioneer Energy Services by 3.0% during the third quarter. Van Den Berg Management I Inc. now owns 6,918,334 shares of the oil and gas company’s stock worth $17,642,000 after purchasing an additional 204,335 shares in the last quarter. 73.94% of the stock is currently owned by institutional investors.

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

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