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Nov. 27, 2015, 12:37 PM
Oct. 29, 2015, 6:05 AM
- Pioneer Energy Services (NYSE:PES): Q3 EPS of -$0.25 misses by $0.01.
- Revenue of $107.5M (-60.7% Y/Y) misses by $1.39M.
Oct. 28, 2015, 5:30 PM
- ABC, ABMD, AET, ALKS, ALLE, ALLT, ALLY, ALU, ALXN, AMT, APD, AVT, AVY, AWI, BANC, BBW, BC, BG, BLL, BWA, BWEN, BXLT, CCE, CHTR, CLF, CME, CMS, COP, CRI, CRR, CSH, CVE, CVI, CVRR, DBD, DFT, DIN, DLPH, EME, EPD, EXAS, EXLS, FCN, FIG, FMS, GCI, GG, GLOP, GLPI, GNC, GOV, GT, GTLS, GTXI, HAR, HEES, HST, HTWR, I, IDA, IMS, INGR, IQNT, IRDM, IVZ, JAH, JCI, KEM, KERX, LDOS, LKQ, LLL, LPLA, MA, MCK, MD, MDP, MDXG, MGM, MMYT, MO, MPC, MPLX, MSCI, MTH, MTRN, MWW, NEO, NICE, NOK, NTCT, NVO, NYT, OAK, ODFL, OFC, OSK, PAG, PBI, PES, PF, PNK, POT, PPL, PX, RDS.A, RFP, RGS, RTIX, RYAM, SABR, SAN, SC, SCG, SHOO, SHW, SMP, SNE, SNMX, STM, TDY, TEVA, TFX, THRM, TPX, TWC, UAN, UBSI, UPL, VA, VICL, WRLD, WST, WWE, XEL, XYL, ZBH
Sep. 16, 2015, 12:45 PM
Sep. 1, 2015, 6:57 PM
- Diamond Offshore (NYSE:DO) is upgraded to Market Perform from Underperform along with the overall offshore drilling segment at Wells Fargo to reflect valuations below net asset value and the potential for an underappreciated demand profile in a recovery scenario in 2017-18.
- But it is hardly a ringing endorsement, as the firm also cut its offshore drilling earnings estimates by 10%-40% for 2016 and 20%-60% for 2017 to primarily reflect likely 5%-15% reductions in floater dayrates and 10%-20% reductions in jack-up dayrates as well as updated idling/stacking assumptions across each fleet.
- For DO, the firm believes the downside risk for the company’s fleet is largely priced in, and that DO’s free cash flow and strong balance sheet relative to the industry suggests more of a neutral outlook than meaningful downside risk.
- Wells' move hardly helped today's stock results in the sector, which were sharply lower: DO -4.2%, RIG -3.5%, SDRL -6.3%, ESV -5.5%, NE -2.4%, ATW -4.5%, RDC -2.1%, ORIG -6.3%.
- At the same time, Wells downgraded land drillers Pioneer Energy (NYSE:PES), RPC Inc. (NYSE:RES) and Patterson-UTI (NASDAQ:PTEN) to Market Perform from Outperform.
Aug. 24, 2015, 12:46 PM
Aug. 21, 2015, 5:36 PM
Jul. 30, 2015, 6:04 AM
- Pioneer Energy Services (NYSE:PES): Q2 EPS of -$0.17 beats by $0.05.
- Revenue of $135M (-48.0% Y/Y) misses by $5.71M.
Apr. 30, 2015, 6:03 AM
- Pioneer Energy Services (NYSE:PES): Q1 EPS of -$0.13 in-line.
- Revenue of $193.8M (-18.9% Y/Y) beats by $7.7M.
Mar. 27, 2015, 3:58 PM
- While Deutsche Bank analysts see oil poised for a modest recovery, they nevertheless downgrade Pioneer Energy (PES -8.1%) and Precision Drilling (PDS -3.7%) to Hold from Buy, believing that some of the traditional early cycle winners - specifically land drillers - will trade up in the near-term but the strong earnings recovery required to justify such a move will disappoint.
- But the firm does not think investors should avoid all oil services stocks, saying well service companies such as Basic Energy Services (BAS -2.8%) and Key Energy Services (KEG flat) could be the biggest beneficiaries, actually helped by a more cautious environment in which operators can generate high returns and quick paybacks by enhancing production from existing wells.
Mar. 23, 2015, 11:56 AM
- Pioneer Energy Services (PES -0.1%) issues lower guidance for Q1 production and drilling, now seeing production service revenue 28%-33% lower vs. prior guidance for a 15%-20% decline, and production service gross margin of 27%-29% vs. earlier guidance of 29%-31% and 36.1% in Q4 2014.
- PES says February quarter-to-date utilization was 86% based on an average fleet of 49 rigs, but expects to end the quarter with 29 rigs in the U.S. and eight rigs in Colombia for a total of 37 rigs.
Mar. 10, 2015, 5:38 PM
Feb. 17, 2015, 6:01 AM
- Pioneer Energy Services (NYSE:PES): Q4 EPS of $0.04 misses by $0.07.
- Revenue of $283.1M (+18.9% Y/Y) beats by $14.78M.
Feb. 16, 2015, 5:30 PM
Feb. 13, 2015, 5:36 PM
Feb. 2, 2015, 6:55 PM
- Jefferies downgrades nine oil services stocks (NYSEARCA:OIH), noting there is still “material downside” to consensus estimates from lower oil prices.
- Despite its medium-term negative view on oil, Jefferies adds that it expects oil prices to start to recover in 2015 with prices rising to levels that support oil services in 2016; yet the firm does not expect the sector to recover quickly, and sees deepwater drilling particularly sluggish on high costs and “flat-to-modestly-lower activity.”
- Downgraded to Underperform: FTI, NBR, PTEN, RIG.
- Downgraded to Hold: CAM, PES, PDS, SLCA, FMSA.
Pioneer Energy Services Corp provides drilling services & production services to a group of independent and large oil and gas exploration & production companies throughout much of the onshore oil & gas producing regions of the USA & Colombia.
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