Brokers Offer Predictions for Pioneer Energy Services Corp’s Q1 2017 Earnings (PES)

Pioneer Energy Services Corp (NYSE:PES) – Equities research analysts at Jefferies Group issued their Q1 2017 earnings estimates for shares of Pioneer Energy Services Corp in a report issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Handler anticipates that the oil and gas company will earn ($0.22) per share for the quarter. Jefferies Group has a “Buy” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Pioneer Energy Services Corp’s Q2 2017 earnings at ($0.17) EPS, Q3 2017 earnings at ($0.13) EPS, Q4 2017 earnings at ($0.13) EPS, FY2017 earnings at ($0.65) EPS, FY2018 earnings at ($0.25) EPS, FY2019 earnings at $0.45 EPS and FY2020 earnings at $0.70 EPS.

A number of other equities research analysts have also commented on PES. Zacks Investment Research upgraded Pioneer Energy Services Corp from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Wednesday, January 11th. Capital One Financial Corp. began coverage on Pioneer Energy Services Corp in a research report on Monday, February 6th. They set an “overweight” rating and a $8.50 target price on the stock. Finally, Scotiabank restated a “hold” rating and set a $7.00 target price on shares of Pioneer Energy Services Corp in a research report on Wednesday, March 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Pioneer Energy Services Corp presently has an average rating of “Buy” and an average price target of $6.00.

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

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Shares of Pioneer Energy Services Corp (NYSE:PES) traded down 0.714% during mid-day trading on Friday, hitting $3.475. The stock had a trading volume of 488,685 shares. The firm’s market cap is $267.51 million. Pioneer Energy Services Corp has a 52 week low of $2.64 and a 52 week high of $7.20. The stock has a 50 day moving average price of $4.24 and a 200 day moving average price of $5.09.

Pioneer Energy Services Corp (NYSE:PES) last announced its earnings results on Friday, February 17th. The oil and gas company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.03. The business had revenue of $71.50 million for the quarter, compared to the consensus estimate of $70.47 million. Pioneer Energy Services Corp had a negative return on equity of 24.83% and a negative net margin of 45.35%. Pioneer Energy Services Corp’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) EPS.

Several hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in shares of Pioneer Energy Services Corp by 0.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 508,286 shares of the oil and gas company’s stock valued at $3,482,000 after buying an additional 4,040 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Pioneer Energy Services Corp by 21.2% in the first quarter. Louisiana State Employees Retirement System now owns 31,500 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 5,500 shares during the period. Comerica Bank increased its stake in shares of Pioneer Energy Services Corp by 23.3% in the fourth quarter. Comerica Bank now owns 81,470 shares of the oil and gas company’s stock valued at $497,000 after buying an additional 15,384 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Pioneer Energy Services Corp by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 2,652,244 shares of the oil and gas company’s stock valued at $10,715,000 after buying an additional 25,126 shares during the period. Finally, Trexquant Investment LP acquired a new position in Pioneer Energy Services Corp during the fourth quarter valued at about $199,000. 62.40% of the stock is owned by hedge funds and other institutional investors.

Pioneer Energy Services Corp Company Profile

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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