Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why Pioneer Energy Shares Shot Up

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of oil-and-gas drilling specialist Pioneer Energy Services (NYSE: PES  ) were booming today, jumping as much as 19% after reporting a strong fourth quarter.

So what: The energy services provider topped earnings estimates by $0.10, posting per-share profits of $0.06 on expectations of a $0.04 loss. Pioneer also grew 12% to $227.9 million, beating the Street's projections of $222.6 million. Pioneer added six rigs during the quarter, and CEO William Stacy Locke credited the quarter's success on the company's new-build drilling rig program, saying the rigs have "reduced initial startup costs" and "will generate substantial cash flow."

Now what: Pioneer shares have floundered over the past couple of years despite the general boom in oil and gas drilling, and it's tempting to think it will be better positioned with the new-build drilling program set to be completed at the end of the quarter. Still, Pioneer has more than $500 million in debt, which it is planning to pay off, and analysts are expecting flat growth and almost no profits this year. I'd like to see a few more earnings beats before I'm convinced.

Want more on Pioneer? Add the stock to your Watchlist right here.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2253871, ~/Articles/ArticleHandler.aspx, 10/1/2016 1:33:13 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 16 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 4:02 PM
PES $4.04 Up +0.15 +3.86%
Pioneer Energy Ser… CAPS Rating: *