Pioneer Energy Services (NYSE:PES) announced its earnings results on Tuesday. The oil and gas company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.07, MarketWatch Earnings reports. The firm had revenue of $149.33 million for the quarter, compared to the consensus estimate of $149.27 million. Pioneer Energy Services had a negative net margin of 10.88% and a negative return on equity of 21.71%.
NYSE PES traded up $0.04 during midday trading on Wednesday, hitting $3.00. The company had a trading volume of 13,133 shares, compared to its average volume of 561,307. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.12 and a quick ratio of 1.95. The firm has a market capitalization of $186.93 million, a price-to-earnings ratio of -4.29 and a beta of 2.93. Pioneer Energy Services has a fifty-two week low of $1.83 and a fifty-two week high of $6.35.
In other Pioneer Energy Services news, Director C John Thompson sold 10,000 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $3.30, for a total value of $33,000.00. Following the sale, the director now directly owns 51,476 shares in the company, valued at approximately $169,870.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 33,000 shares of company stock worth $111,250 over the last 90 days. Company insiders own 6.66% of the company’s stock.
PES has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Pioneer Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. Jefferies Financial Group downgraded shares of 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. ValuEngine downgraded shares of Pioneer Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Seaport Global Securities restated a “buy” rating and issued a $5.00 price target on shares of Pioneer Energy Services in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus started coverage on shares of Pioneer Energy Services in a research report on Monday, September 10th. They issued a “hold” rating and a $3.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target 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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