Jefferies Group Reaffirms Buy Rating for Pioneer Energy Services (PES)

Jefferies Group reissued their buy rating on shares of Pioneer Energy Services (NYSE:PES) in a research note issued to investors on Friday, November 10th. Jefferies Group currently has a $3.00 target price on the oil and gas company’s stock. Jefferies Group also issued estimates for Pioneer Energy Services’ Q4 2017 earnings at ($0.12) EPS, Q1 2018 earnings at ($0.10) EPS, Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.04) EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.25) EPS, FY2019 earnings at $0.35 EPS and FY2020 earnings at $0.55 EPS.

PES has been the topic of a number of other reports. Zacks Investment Research raised shares of Pioneer Energy Services from a sell rating to a hold rating in a research report on Tuesday, July 25th. Imperial Capital started coverage on shares of Pioneer Energy Services in a research report on Wednesday, October 4th. They issued an in-line rating and a $3.00 target price on the stock. Wells Fargo & Company downgraded shares of Pioneer Energy Services from an outperform rating to a market perform rating in a research report on Monday, October 16th. Goldman Sachs Group cut shares of Pioneer Energy Services from a buy rating to a neutral rating in a research note on Thursday, October 12th. Finally, ValuEngine cut shares of Pioneer Energy Services from a sell rating to a strong sell rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $4.69.

Pioneer Energy Services (NYSE PES) traded up $0.05 during midday trading on Friday, hitting $2.05. 1,206,600 shares of the company were exchanged, compared to its average volume of 966,990. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77. Pioneer Energy Services has a 1 year low of $1.60 and a 1 year high of $7.20.

Pioneer Energy Services (NYSE:PES) last posted its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $117.28 million during the quarter, compared to analysts’ expectations of $114.82 million. Pioneer Energy Services had a negative net margin of 25.19% and a negative return on equity of 26.46%. The company’s quarterly revenue was up 71.6% on a year-over-year basis. During the same period last year, the business earned ($0.29) earnings per share. research analysts forecast that Pioneer Energy Services will post -0.68 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of PES. Balyasny Asset Management LLC boosted its stake in Pioneer Energy Services by 390.0% during the 2nd 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 during the period. Franklin Resources Inc. lifted its stake in shares of Pioneer Energy Services by 93.8% in the 2nd quarter. Franklin Resources Inc. now owns 2,912,950 shares of the oil and gas company’s stock worth $5,972,000 after acquiring an additional 1,410,000 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Pioneer Energy Services by 67.1% in the 3rd quarter. Macquarie Group Ltd. now owns 3,440,687 shares of the oil and gas company’s stock worth $8,774,000 after acquiring an additional 1,382,209 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pioneer Energy Services by 19.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,549,757 shares of the oil and gas company’s stock worth $26,199,000 after acquiring an additional 1,044,979 shares during the period. Finally, FMR LLC acquired a new stake in shares of Pioneer Energy Services in the 2nd quarter worth $1,584,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.

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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.

Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

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