OTCPK:PESX

Stock Analysis Report

Pioneer Energy Services

Executive Summary

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies.


Snowflake Analysis

Overvalued with worrying balance sheet.


Similar Companies

Share Price & News

How has Pioneer Energy Services's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PESX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

9.1%

PESX

-3.4%

US Energy Services

-1.1%

US Market


1 Year Return

-98.0%

PESX

-32.2%

US Energy Services

17.8%

US Market

Return vs Industry: PESX underperformed the US Energy Services industry which returned -32.2% over the past year.

Return vs Market: PESX underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

PESXIndustryMarket
7 Day9.1%-3.4%-1.1%
30 Day-4.5%-6.9%1.5%
90 Day12.0%-6.5%6.6%
1 Year-98.0%-98.0%-30.0%-32.2%20.2%17.8%
3 Year-99.3%-99.3%-55.7%-61.3%47.5%38.1%
5 Year-99.3%-99.3%-57.6%-64.8%71.2%52.4%

Price Volatility Vs. Market

How volatile is Pioneer Energy Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Pioneer Energy Services undervalued compared to its fair value and its price relative to the market?

0.027x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate PESX's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate PESX's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: PESX is unprofitable, so we can't compare its PE Ratio to the Energy Services industry average.

PE vs Market: PESX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PESX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PESX is good value based on its PB Ratio (0x) compared to the US Energy Services industry average (0.6x).


Next Steps

Future Growth

How is Pioneer Energy Services forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

14.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PESX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PESX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PESX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PESX's revenue is expected to decline over the next 3 years (-2.9% per year).

High Growth Revenue: PESX's revenue is forecast to decline over the next 3 years (-2.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PESX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Pioneer Energy Services performed over the past 5 years?

8.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PESX is currently unprofitable.

Growing Profit Margin: PESX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PESX is unprofitable, but has reduced losses over the past 5 years at a rate of 8.3% per year.

Accelerating Growth: Unable to compare PESX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PESX is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-32.9%).


Return on Equity

High ROE: PESX has a negative Return on Equity (-60.59%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Pioneer Energy Services's financial position?


Financial Position Analysis

Short Term Liabilities: PESX's short term assets ($195.8M) exceed its short term liabilities ($98.3M).

Long Term Liabilities: PESX's short term assets ($195.8M) do not cover its long term liabilities ($478.2M).


Debt to Equity History and Analysis

Debt Level: PESX's debt to equity ratio (412.6%) is considered high.

Reducing Debt: PESX's debt to equity ratio has increased from 85.8% to 412.6% over the past 5 years.


Balance Sheet

Inventory Level: PESX has a high level of physical assets or inventory.

Debt Coverage by Assets: PESX's debt is not covered by short term assets (assets are 0.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: PESX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: PESX has less than a year of cash runway if free cash flow continues to reduce at historical rates of -38.8% each year


Next Steps

Dividend

What is Pioneer Energy Services's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage4.3%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate PESX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate PESX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PESX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PESX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PESX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.8yrs

Average management tenure


CEO

William Locke (63yo)

16.2yrs

Tenure

US$4,714,911

Compensation

Mr. William Stacy Locke, also known as Wm, has been the President of Pioneer Energy Services Corp. (formerly Pioneer Drilling Co) since May 1995 and Chief Executive Officer since December 8, 2003. Mr. Lock ...


CEO Compensation Analysis

Compensation vs Market: William's total compensation ($USD4.71M) is above average for companies of similar size in the US market ($USD521.92K).

Compensation vs Earnings: William's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
William Locke
President16.2yrsUS$4.71m1.85% $55.8k
Lorne Phillips
Executive VP & CFO11yrsUS$1.63m0.39% $11.7k
Brian Tucker
Executive VP & COO1.1yrsUS$1.52m0.18% $5.4k
Carlos Peña
Executive VP & Chief Strategy Officer11.3yrsUS$1.54m0.24% $7.3k
Joe Freeman
Business Operations Consulting Services1.1yrsUS$893.96k0.053% $1.6k
Daniel Petro
Vice President of Treasury and Investor Relations5.8yrsno datano data
Bryce Seki
VP, General Counsel2.1yrsno data0.044% $1.3k
Scott Keenen
Senior Vice President of Global Human Resources9.8yrsno datano data
Donald Lacombe
Senior Vice President of Marketing - Drilling Services0yrsUS$652.62kno data

7.8yrs

Average Tenure

52yo

Average Age

Experienced Management: PESX's management team is seasoned and experienced (7.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Locke
President16.2yrsUS$4.71m1.85% $55.8k
John Rauh
Independent Director11.3yrsUS$204.00k0.48% $14.5k
Dean Burkhardt
Independent Chairman11.8yrsUS$277.25k0.51% $15.3k
C. Thompson
Independent Director18.8yrsUS$194.00k0.25% $7.7k
Scott Urban
Independent Director11.3yrsUS$202.25k0.45% $13.6k
Tamara Morytko
Independent Director0.6yrsno data0.10% $3.1k

11.5yrs

Average Tenure

65.5yo

Average Age

Experienced Board: PESX's board of directors are seasoned and experienced ( 11.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pioneer Energy Services Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pioneer Energy Services Corp.
  • Ticker: PESX
  • Exchange: OTCPK
  • Founded: 1968
  • Industry: Oil and Gas Drilling
  • Sector: Energy
  • Market Cap: US$3.023m
  • Shares outstanding: 79.12m
  • Website: https://www.pioneeres.com

Number of Employees


Location

  • Pioneer Energy Services Corp.
  • 1250 NE Loop 410
  • Suite 1000
  • San Antonio
  • Texas
  • 78209
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PESXOTCPK (Pink Sheets LLC)YesCommon StockUSUSDFeb 1981
YGODB (Deutsche Boerse AG)YesCommon StockDEEURFeb 1981
0KIWLSE (London Stock Exchange)YesCommon StockGBUSDFeb 1981

Biography

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies. It provides contract land drilling services in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, as well as in Colombia. The company operates 16 AC rigs in the United States and 8 SCR rigs in Colombia. It also provides well, wireline, and coiled tubing services to various exploration and production companies in the onshore oil and gas producing regions in the Gulf Coast, Mid-Continent, and Rocky Mountain states. As of December 31, 2018, the company had a fleet of 113 rigs with 550 horsepower and 12 rigs with 600 horsepower; and 9 coiled tubing units. The company was formerly known as Pioneer Drilling Company and changed its name to Pioneer Energy Services Corp. in 2012. Pioneer Energy Services Corp. was founded in 1968 and is headquartered in San Antonio, Texas. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 00:44
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.