Pioneer Energy Services (PES) Coverage Initiated at B. Riley

B. Riley started coverage on shares of Pioneer Energy Services (NYSE:PES) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $3.25 target price on the oil and gas company’s stock. B. Riley also issued estimates for Pioneer Energy Services’ Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.51) EPS, Q1 2019 earnings at ($0.10) EPS, Q2 2019 earnings at ($0.09) EPS, Q3 2019 earnings at ($0.07) EPS, Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.31) EPS and FY2020 earnings at $0.01 EPS.

Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies set a $4.00 target price on shares of Pioneer Energy Services and gave the stock a buy rating in a research report on Wednesday, October 3rd. Seaport Global Securities reiterated a buy rating and set a $5.00 target price on shares of Pioneer Energy Services in a research report on Wednesday, August 1st. Stifel Nicolaus started coverage on shares of Pioneer Energy Services in a research report on Monday, September 10th. They set a hold rating and a $3.00 target price for the company. ValuEngine upgraded shares of Pioneer Energy Services from a sell rating to a hold rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded shares of Pioneer Energy Services from a sell rating to a hold rating in a research report on Thursday, November 1st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Pioneer Energy Services currently has an average rating of Hold and a consensus price target of $4.03.

NYSE:PES traded down $0.14 on Tuesday, reaching $2.65. 5,384 shares of the company’s stock were exchanged, compared to its average volume of 590,245. The company has a quick ratio of 1.97, a current ratio of 2.16 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $218.22 million, a PE ratio of -3.99 and a beta of 2.58. Pioneer Energy Services has a 52 week low of $1.90 and a 52 week high of $6.35.

Pioneer Energy Services (NYSE:PES) last issued its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.07. The firm had revenue of $149.33 million during the quarter, compared to analyst estimates of $149.27 million. Pioneer Energy Services had a negative net margin of 8.19% and a negative return on equity of 19.97%. Analysts anticipate that Pioneer Energy Services will post -0.51 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Pioneer Energy Services by 3.0% in the second quarter. BlackRock Inc. now owns 11,242,041 shares of the oil and gas company’s stock valued at $65,766,000 after acquiring an additional 328,918 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Pioneer Energy Services by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,505,737 shares of the oil and gas company’s stock valued at $38,058,000 after acquiring an additional 152,183 shares during the period. Macquarie Group Ltd. boosted its position in shares of Pioneer Energy Services by 26.4% in the third quarter. Macquarie Group Ltd. now owns 5,779,510 shares of the oil and gas company’s stock valued at $17,050,000 after acquiring an additional 1,208,762 shares during the period. Principal Financial Group Inc. lifted its position in Pioneer Energy Services by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,371,587 shares of the oil and gas company’s stock valued at $3,703,000 after purchasing an additional 11,808 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Pioneer Energy Services by 8.7% during the third quarter. Franklin Resources Inc. now owns 1,257,245 shares of the oil and gas company’s stock valued at $3,709,000 after purchasing an additional 100,903 shares during the last quarter. Institutional investors own 74.55% of the company’s stock.

Pioneer Energy Services Company Profile

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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Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

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