Intrinsic value of Pioneer Energy Services - PES

Previous Close

$2.54

  Intrinsic Value

$11.00

stock screener

  Rating & Target

str. buy

+333%

Previous close

$2.54

 
Intrinsic value

$11.00

 
Up/down potential

+333%

 
Rating

str. buy

We calculate the intrinsic value of PES stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  44.50
  40.55
  37.00
  33.80
  30.92
  28.32
  25.99
  23.89
  22.00
  20.30
  18.77
  17.40
  16.16
  15.04
  14.04
  13.13
  12.32
  11.59
  10.93
  10.34
  9.80
  9.32
  8.89
  8.50
  8.15
  7.84
  7.55
  7.30
  7.07
  6.86
Revenue, $m
  645
  907
  1,242
  1,662
  2,176
  2,792
  3,518
  4,358
  5,317
  6,397
  7,598
  8,919
  10,360
  11,919
  13,591
  15,376
  17,271
  19,272
  21,378
  23,588
  25,900
  28,314
  30,831
  33,452
  36,179
  39,014
  41,960
  45,022
  48,204
  51,511
Variable operating expenses, $m
  410
  576
  789
  1,055
  1,382
  1,773
  2,234
  2,767
  3,376
  4,062
  4,825
  5,664
  6,579
  7,568
  8,631
  9,764
  10,967
  12,238
  13,575
  14,978
  16,446
  17,979
  19,578
  21,242
  22,974
  24,774
  26,645
  28,589
  30,609
  32,709
Fixed operating expenses, $m
  225
  230
  235
  240
  245
  251
  256
  262
  268
  273
  280
  286
  292
  298
  305
  312
  318
  325
  333
  340
  347
  355
  363
  371
  379
  387
  396
  405
  414
  423
Total operating expenses, $m
  635
  806
  1,024
  1,295
  1,627
  2,024
  2,490
  3,029
  3,644
  4,335
  5,105
  5,950
  6,871
  7,866
  8,936
  10,076
  11,285
  12,563
  13,908
  15,318
  16,793
  18,334
  19,941
  21,613
  23,353
  25,161
  27,041
  28,994
  31,023
  33,132
Operating income, $m
  11
  101
  219
  367
  549
  768
  1,028
  1,329
  1,673
  2,061
  2,494
  2,970
  3,490
  4,052
  4,656
  5,301
  5,985
  6,709
  7,470
  8,270
  9,106
  9,980
  10,891
  11,839
  12,826
  13,853
  14,919
  16,028
  17,181
  18,379
EBITDA, $m
  154
  303
  496
  737
  1,034
  1,391
  1,812
  2,301
  2,859
  3,488
  4,188
  4,959
  5,800
  6,710
  7,687
  8,729
  9,836
  11,006
  12,237
  13,529
  14,881
  16,293
  17,765
  19,298
  20,893
  22,552
  24,276
  26,067
  27,929
  29,865
Interest expense (income), $m
  25
  31
  48
  70
  99
  135
  178
  230
  292
  363
  445
  536
  638
  750
  872
  1,005
  1,146
  1,298
  1,459
  1,628
  1,807
  1,994
  2,190
  2,395
  2,609
  2,831
  3,062
  3,303
  3,553
  3,812
  4,082
Earnings before tax, $m
  -21
  53
  148
  268
  414
  590
  797
  1,037
  1,310
  1,617
  1,958
  2,332
  2,739
  3,180
  3,651
  4,154
  4,687
  5,250
  5,842
  6,463
  7,112
  7,789
  8,495
  9,230
  9,995
  10,790
  11,617
  12,476
  13,368
  14,296
Tax expense, $m
  0
  14
  40
  72
  112
  159
  215
  280
  354
  437
  529
  630
  740
  858
  986
  1,122
  1,266
  1,418
  1,577
  1,745
  1,920
  2,103
  2,294
  2,492
  2,699
  2,913
  3,136
  3,368
  3,609
  3,860
Net income, $m
  -21
  39
  108
  195
  302
  431
  582
  757
  956
  1,180
  1,429
  1,702
  2,000
  2,321
  2,666
  3,033
  3,422
  3,833
  4,265
  4,718
  5,191
  5,686
  6,202
  6,738
  7,296
  7,877
  8,480
  9,107
  9,759
  10,436

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,108
  1,558
  2,134
  2,856
  3,738
  4,797
  6,044
  7,488
  9,136
  10,991
  13,054
  15,325
  17,801
  20,479
  23,353
  26,420
  29,675
  33,113
  36,732
  40,529
  44,501
  48,650
  52,975
  57,478
  62,163
  67,034
  72,096
  77,357
  82,824
  88,506
Adjusted assets (=assets-cash), $m
  1,108
  1,558
  2,134
  2,856
  3,738
  4,797
  6,044
  7,488
  9,136
  10,991
  13,054
  15,325
  17,801
  20,479
  23,353
  26,420
  29,675
  33,113
  36,732
  40,529
  44,501
  48,650
  52,975
  57,478
  62,163
  67,034
  72,096
  77,357
  82,824
  88,506
Revenue / Adjusted assets
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
Average production assets, $m
  820
  1,152
  1,579
  2,112
  2,765
  3,549
  4,471
  5,539
  6,758
  8,130
  9,657
  11,336
  13,168
  15,148
  17,275
  19,543
  21,951
  24,495
  27,171
  29,980
  32,919
  35,987
  39,187
  42,518
  45,983
  49,586
  53,331
  57,223
  61,267
  65,470
Working capital, $m
  79
  112
  153
  204
  268
  343
  433
  536
  654
  787
  935
  1,097
  1,274
  1,466
  1,672
  1,891
  2,124
  2,370
  2,629
  2,901
  3,186
  3,483
  3,792
  4,115
  4,450
  4,799
  5,161
  5,538
  5,929
  6,336
Total debt, $m
  710
  1,036
  1,454
  1,978
  2,619
  3,388
  4,293
  5,341
  6,538
  7,884
  9,382
  11,031
  12,829
  14,772
  16,859
  19,086
  21,449
  23,945
  26,572
  29,329
  32,213
  35,225
  38,364
  41,634
  45,035
  48,571
  52,247
  56,066
  60,035
  64,160
Total liabilities, $m
  805
  1,131
  1,550
  2,073
  2,714
  3,483
  4,388
  5,437
  6,633
  7,979
  9,477
  11,126
  12,924
  14,867
  16,954
  19,181
  21,544
  24,040
  26,667
  29,424
  32,308
  35,320
  38,460
  41,729
  45,130
  48,666
  52,342
  56,161
  60,130
  64,255
Total equity, $m
  304
  427
  585
  782
  1,024
  1,314
  1,656
  2,052
  2,503
  3,012
  3,577
  4,199
  4,878
  5,611
  6,399
  7,239
  8,131
  9,073
  10,065
  11,105
  12,193
  13,330
  14,515
  15,749
  17,033
  18,367
  19,754
  21,196
  22,694
  24,251
Total liabilities and equity, $m
  1,109
  1,558
  2,135
  2,855
  3,738
  4,797
  6,044
  7,489
  9,136
  10,991
  13,054
  15,325
  17,802
  20,478
  23,353
  26,420
  29,675
  33,113
  36,732
  40,529
  44,501
  48,650
  52,975
  57,478
  62,163
  67,033
  72,096
  77,357
  82,824
  88,506
Debt-to-equity ratio
  2.340
  2.430
  2.490
  2.530
  2.560
  2.580
  2.590
  2.600
  2.610
  2.620
  2.620
  2.630
  2.630
  2.630
  2.630
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.640
  2.650
  2.650
  2.650
Adjusted equity ratio
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274
  0.274

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -21
  39
  108
  195
  302
  431
  582
  757
  956
  1,180
  1,429
  1,702
  2,000
  2,321
  2,666
  3,033
  3,422
  3,833
  4,265
  4,718
  5,191
  5,686
  6,202
  6,738
  7,296
  7,877
  8,480
  9,107
  9,759
  10,436
Depreciation, amort., depletion, $m
  144
  202
  277
  371
  485
  623
  784
  972
  1,186
  1,426
  1,694
  1,989
  2,310
  2,658
  3,031
  3,429
  3,851
  4,297
  4,767
  5,260
  5,775
  6,314
  6,875
  7,459
  8,067
  8,699
  9,356
  10,039
  10,749
  11,486
Funds from operations, $m
  123
  241
  385
  566
  788
  1,054
  1,367
  1,729
  2,142
  2,607
  3,123
  3,691
  4,310
  4,979
  5,696
  6,461
  7,273
  8,130
  9,032
  9,977
  10,967
  12,000
  13,076
  14,197
  15,364
  16,576
  17,836
  19,146
  20,507
  21,922
Change in working capital, $m
  24
  32
  41
  52
  63
  76
  89
  103
  118
  133
  148
  163
  177
  192
  206
  220
  233
  246
  259
  272
  284
  297
  310
  322
  335
  349
  362
  377
  391
  407
Cash from operations, $m
  99
  209
  344
  514
  724
  978
  1,277
  1,625
  2,024
  2,474
  2,975
  3,529
  4,133
  4,787
  5,490
  6,242
  7,040
  7,884
  8,773
  9,706
  10,682
  11,703
  12,767
  13,875
  15,028
  16,228
  17,474
  18,770
  20,116
  21,516
Maintenance CAPEX, $m
  -99
  -144
  -202
  -277
  -371
  -485
  -623
  -784
  -972
  -1,186
  -1,426
  -1,694
  -1,989
  -2,310
  -2,658
  -3,031
  -3,429
  -3,851
  -4,297
  -4,767
  -5,260
  -5,775
  -6,314
  -6,875
  -7,459
  -8,067
  -8,699
  -9,356
  -10,039
  -10,749
New CAPEX, $m
  -253
  -332
  -426
  -534
  -653
  -783
  -922
  -1,068
  -1,219
  -1,372
  -1,526
  -1,680
  -1,832
  -1,981
  -2,126
  -2,269
  -2,408
  -2,544
  -2,677
  -2,808
  -2,939
  -3,069
  -3,199
  -3,331
  -3,466
  -3,603
  -3,745
  -3,892
  -4,044
  -4,203
Cash from investing activities, $m
  -352
  -476
  -628
  -811
  -1,024
  -1,268
  -1,545
  -1,852
  -2,191
  -2,558
  -2,952
  -3,374
  -3,821
  -4,291
  -4,784
  -5,300
  -5,837
  -6,395
  -6,974
  -7,575
  -8,199
  -8,844
  -9,513
  -10,206
  -10,925
  -11,670
  -12,444
  -13,248
  -14,083
  -14,952
Free cash flow, $m
  -254
  -268
  -285
  -296
  -299
  -291
  -268
  -227
  -167
  -84
  23
  155
  312
  496
  707
  942
  1,204
  1,489
  1,798
  2,130
  2,484
  2,859
  3,254
  3,669
  4,104
  4,557
  5,030
  5,522
  6,033
  6,564
Issuance/(repayment) of debt, $m
  248
  326
  418
  524
  641
  769
  905
  1,048
  1,196
  1,347
  1,498
  1,649
  1,798
  1,944
  2,087
  2,227
  2,363
  2,496
  2,627
  2,756
  2,884
  3,012
  3,140
  3,269
  3,401
  3,536
  3,675
  3,819
  3,969
  4,125
Issuance/(repurchase) of shares, $m
  114
  85
  50
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  362
  411
  468
  526
  641
  769
  905
  1,048
  1,196
  1,347
  1,498
  1,649
  1,798
  1,944
  2,087
  2,227
  2,363
  2,496
  2,627
  2,756
  2,884
  3,012
  3,140
  3,269
  3,401
  3,536
  3,675
  3,819
  3,969
  4,125
Total cash flow (excl. dividends), $m
  108
  143
  184
  230
  342
  478
  638
  821
  1,030
  1,263
  1,521
  1,803
  2,110
  2,440
  2,793
  3,169
  3,567
  3,986
  4,426
  4,887
  5,368
  5,871
  6,394
  6,938
  7,505
  8,093
  8,705
  9,341
  10,002
  10,689
Retained Cash Flow (-), $m
  -114
  -123
  -158
  -198
  -242
  -290
  -342
  -396
  -451
  -508
  -565
  -622
  -678
  -734
  -788
  -840
  -892
  -942
  -992
  -1,040
  -1,089
  -1,137
  -1,185
  -1,234
  -1,284
  -1,335
  -1,387
  -1,441
  -1,498
  -1,557
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -6
  20
  26
  32
  100
  188
  296
  426
  578
  754
  955
  1,181
  1,431
  1,707
  2,006
  2,329
  2,675
  3,043
  3,434
  3,846
  4,280
  4,734
  5,209
  5,705
  6,221
  6,759
  7,318
  7,900
  8,504
  9,132
Discount rate, %
  10.30
  10.82
  11.36
  11.92
  12.52
  13.15
  13.80
  14.49
  15.22
  15.98
  16.78
  17.62
  18.50
  19.42
  20.39
  21.41
  22.48
  23.61
  24.79
  26.03
  27.33
  28.70
  30.13
  31.64
  33.22
  34.88
  36.62
  38.45
  40.38
  42.40
PV of cash for distribution, $m
  -5
  16
  19
  20
  55
  90
  120
  144
  162
  171
  173
  169
  158
  142
  124
  104
  85
  67
  51
  38
  27
  18
  12
  8
  5
  3
  2
  1
  0
  0
Current shareholders' claim on cash, %
  63.5
  49.0
  43.6
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5
  43.5

Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment. It also provides two of its services (coiled tubing and wireline services) offshore in the Gulf of Mexico. Its drilling services segment provides contract land drilling services to a group of exploration and production companies through the Company's four drilling divisions in the United States, and internationally in Colombia. Its production services segment provides a range of services to a group of exploration and production companies, with its operations concentrated in the various United States onshore oil and gas producing regions in the Mid-Continent and Rocky Mountain states and in the Gulf Coast.

FINANCIAL RATIOS  of  Pioneer Energy Services (PES)

Valuation Ratios
P/E Ratio -1.5
Price to Sales 0.7
Price to Book 0.7
Price to Tangible Book
Price to Cash Flow 39.2
Price to Free Cash Flow -7.3
Growth Rates
Sales Growth Rate -48.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -80%
Cap. Spend. - 3 Yr. Gr. Rate -28%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 120.6%
Total Debt to Equity 120.6%
Interest Coverage -5
Management Effectiveness
Return On Assets -13.8%
Ret/ On Assets - 3 Yr. Avg. -9.3%
Return On Total Capital -19%
Ret/ On T. Cap. - 3 Yr. Avg. -13.8%
Return On Equity -41%
Return On Equity - 3 Yr. Avg. -28.5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 26.4%
Gross Margin - 3 Yr. Avg. 31.7%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 4.5%
Operating Margin -41.2%
Oper. Margin - 3 Yr. Avg. -24.4%
Pre-Tax Margin -50.2%
Pre-Tax Margin - 3 Yr. Avg. -30.2%
Net Profit Margin -46.2%
Net Profit Margin - 3 Yr. Avg. -26.2%
Effective Tax Rate 7.9%
Eff/ Tax Rate - 3 Yr. Avg. 16.7%
Payout Ratio 0%

PES stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PES stock intrinsic value calculation we used $446.455 million for the last fiscal year's total revenue generated by Pioneer Energy Services. The default revenue input number comes from 0001 income statement of Pioneer Energy Services. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PES stock valuation model: a) initial revenue growth rate of 44.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.3%, whose default value for PES is calculated based on our internal credit rating of Pioneer Energy Services, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Pioneer Energy Services.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PES stock the variable cost ratio is equal to 63.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $220 million in the base year in the intrinsic value calculation for PES stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.8% for Pioneer Energy Services.

Corporate tax rate of 27% is the nominal tax rate for Pioneer Energy Services. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PES stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PES are equal to 127.1%.

Life of production assets of 5.7 years is the average useful life of capital assets used in Pioneer Energy Services operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PES is equal to 12.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $210.096 million for Pioneer Energy Services - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 78.215 million for Pioneer Energy Services is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Pioneer Energy Services at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

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▶ Pioneer Energy Services exits offshore market amid second-quarter loss   [02:53PM  American City Business Journals]
▶ Pioneer Energy: 2Q Earnings Snapshot   [06:27AM  Associated Press]
▶ Ensco plc (ESV) Jumps: Stock Rises 8.5%   [Jun-28-18 08:39AM  Zacks]
▶ Pioneer Energy posts another quarterly loss while inching toward profitability   [May-02-18 02:24PM  American City Business Journals]
▶ Pioneer Energy: 1Q Earnings Snapshot   [07:54AM  Associated Press]
▶ Farmers Hit Hard As Trump Backs Big Oil   [Apr-04-18 05:00PM  Oilprice.com]
▶ Pioneer Energy Services forecasts return to profitability in 2018   [Feb-23-18 11:20AM  American City Business Journals]
▶ Pioneer Energy Services Corp. to Host Earnings Call   [Feb-16-18 08:15AM  ACCESSWIRE]
▶ Pioneer Energy reports 4Q loss   [06:57AM  Associated Press]
▶ Pioneer Energy Services pays off $150 million in debt   [Nov-10-17 08:00AM  American City Business Journals]
▶ Pioneer Energy Services shows signs of turnaround after three years of losses   [Nov-02-17 02:55PM  American City Business Journals]
▶ Pioneer Energy reports 3Q loss   [08:03AM  Associated Press]
▶ 5 Top Performing Energy Stocks of September   [Oct-04-17 04:14PM  Zacks]
▶ Van Den Berg Buys Dollar Tree, Schlumberger, CVS   [Aug-21-17 05:05PM  GuruFocus.com]
▶ Pioneer Energy reports 2Q loss   [Aug-01-17 09:32PM  Associated Press]
▶ Pioneer Energy Services approaching three years of losses   [02:50PM  American City Business Journals]
▶ 5 Energy Stocks to Turn It Around in Q3   [Jul-06-17 02:11PM  Zacks]
▶ 8 Stocks Van Den Berg Continues to Buy   [May-03-17 05:32PM  GuruFocus.com]
▶ Pioneer Energy reports higher revenue, 10 quarters of losses   [01:25PM  American City Business Journals]
▶ Pioneer Energy reports 1Q loss   [06:21AM  Associated Press]
▶ Article 50 Submitted, Triggering Brexit   [10:13AM  Investopedia]

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