Pioneer Energy Receives a Buy from D.A. Davidson

By Carrie Williams

D.A. Davidson analyst Sonny Randhawa reiterated a Buy rating on Pioneer Energy (NYSE: PES) today and set a price target of $5. The company’s shares opened today at $3.80.

According to, Randhawa is a top 100 analyst with an average return of 42.6% and a 66.7% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Parker Drilling Company, and Precision Drilling.

Pioneer Energy has an analyst consensus of Moderate Buy, with a price target consensus of $5.

Based on Pioneer Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $68.35 million and GAAP net loss of -$34,620,000. In comparison, last year the company earned revenue of $107 million and had a GAAP net loss of -$17,540,000.

Pioneer Energy Services Corp. provides contract land drilling and production services to independent and major oil and gas exploration and production companies. The company operates its business through two segments: Drilling Services and Production Services. The Drilling Services segment provides contract land drilling services to oil and gas exploration and production companies. The Production Services segment provides a range of services to exploration and production companies, including well servicing, wireline services, coiled tubing services, and fishing and rental services. Pioneer Energy Services was founded in 1968 and is headquartered in San Antonio, TX.