Pioneer Energy Services Corp (NYSE:PES) – Research analysts at Piper Jaffray Companies cut their Q2 2020 earnings estimates for shares of Pioneer Energy Services in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst J. Daniel now anticipates that the oil and gas company will post earnings of $0.01 per share for the quarter, down from their previous estimate of $0.02. Piper Jaffray Companies currently has a “Buy” rating and a $4.00 target price on the stock. Piper Jaffray Companies also issued estimates for Pioneer Energy Services’ Q3 2020 earnings at $0.03 EPS and FY2020 earnings at $0.07 EPS.
Several other research analysts have also recently weighed in on the company. Seaport Global Securities reiterated a “buy” rating and set a $5.00 price objective on shares of Pioneer Energy Services in a research report on Wednesday, August 1st. Jefferies Financial Group cut Pioneer Energy Services from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research report on Tuesday, July 10th. Stifel Nicolaus initiated coverage on Pioneer Energy Services in a research report on Monday, September 10th. They set a “hold” rating and a $3.00 price objective on the stock. Imperial Capital set a $3.00 price objective on Pioneer Energy Services and gave the stock an “in-line” rating in a research report on Friday, September 28th. Finally, ValuEngine cut Pioneer Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.14.
Pioneer Energy Services (NYSE:PES) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.07. The firm had revenue of $149.33 million for the quarter, compared to analysts’ expectations of $149.27 million. Pioneer Energy Services had a negative return on equity of 19.97% and a negative net margin of 8.19%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Pioneer Energy Services in the second quarter worth $107,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Pioneer Energy Services in the second quarter worth $161,000. SG Americas Securities LLC increased its position in shares of Pioneer Energy Services by 123.5% in the second quarter. SG Americas Securities LLC now owns 29,477 shares of the oil and gas company’s stock worth $172,000 after purchasing an additional 16,289 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Pioneer Energy Services by 154.3% in the second quarter. Cubist Systematic Strategies LLC now owns 30,353 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 18,415 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Pioneer Energy Services in the first quarter worth $197,000. Institutional investors own 75.35% of the company’s stock.
In related news, Director C John Thompson sold 15,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $3.37, for a total value of $50,550.00. Following the transaction, the director now owns 51,476 shares in the company, valued at $173,474.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 23,000 shares of company stock worth $78,250 in the last 90 days. 6.05% of the stock is owned by company insiders.
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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