Pioneer Energy Services Corp. (NYSE:PES) – Equities researchers at DA Davidson lifted their FY2016 EPS estimates for Pioneer Energy Services Corp. in a research note issued to investors on Tuesday. DA Davidson analyst S. Randhawa now forecasts that the firm will post earnings per share of ($1.21) for the year, up from their previous estimate of ($1.27). DA Davidson currently has a “Buy” rating and a $5.00 target price on the stock. DA Davidson also issued estimates for Pioneer Energy Services Corp.’s Q4 2016 earnings at ($0.31) EPS, Q1 2017 earnings at ($0.27) EPS, Q2 2017 earnings at ($0.24) EPS, Q4 2017 earnings at ($0.14) EPS, FY2017 earnings at ($0.82) EPS and FY2018 earnings at ($0.13) EPS.

Pioneer Energy Services Corp. (NYSE:PES) last announced its earnings results on Tuesday, November 1st. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. Pioneer Energy Services Corp. had a negative return on equity of 24.83% and a negative net margin of 45.35%. The firm had revenue of $68.40 million for the quarter, compared to analyst estimates of $63.11 million. During the same quarter last year, the firm posted ($0.25) EPS. The business’s revenue was down 36.4% on a year-over-year basis.

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

A number of other research analysts have also issued reports on PES. Wells Fargo & Co. raised Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 18th. Zacks Investment Research lowered Pioneer Energy Services Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 20th. Jefferies Group raised Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and boosted their target price for the company from $5.00 to $6.00 in a report on Friday, September 2nd. Seaport Global Securities raised Pioneer Energy Services Corp. from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Friday, September 30th. Finally, Raymond James Financial Inc. raised Pioneer Energy Services Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, November 2nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $3.73.

Pioneer Energy Services Corp. (NYSE:PES) opened at 3.95 on Friday. The stock’s market cap is $256.37 million. Pioneer Energy Services Corp. has a 12 month low of $0.95 and a 12 month high of $5.05. The stock’s 50 day moving average price is $3.99 and its 200-day moving average price is $3.73.

Hedge funds have recently bought and sold shares of the company. Phoenix Investment Adviser LLC bought a new stake in shares of Pioneer Energy Services Corp. during the second quarter valued at about $392,000. EAM Investors LLC bought a new stake in shares of Pioneer Energy Services Corp. during the second quarter valued at about $2,998,000. Van Den Berg Management I Inc. increased its stake in shares of Pioneer Energy Services Corp. by 65.3% in the second quarter. Van Den Berg Management I Inc. now owns 1,556,586 shares of the company’s stock valued at $7,160,000 after buying an additional 614,675 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Pioneer Energy Services Corp. by 6.7% in the second quarter. California Public Employees Retirement System now owns 1,169,200 shares of the company’s stock valued at $5,378,000 after buying an additional 73,300 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Pioneer Energy Services Corp. during the second quarter valued at about $926,000. Institutional investors own 72.78% of the company’s stock.

Pioneer Energy Services Corp. Company Profile

Pioneer Energy Services Corp. provides land-based drilling services and production services to oil and gas exploration, and production companies in the United States and internationally in Colombia. The Company operates through two segments: Drilling Services and Production Services. The Drilling Services Segment provides contract land drilling services to a group of exploration and production companies through its four drilling divisions in the United States, and internationally in Colombia.

5 Day Chart for NYSE:PES

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