Pioneer Energy Services Corporation (NYSE:PES)

CAPS Rating: 2 out of 5

The Company provides contract land drilling services to independent and main oil and gas exploration and production companies.


Player Avatar scotty1727 (67.40) Submitted: 7/8/2007 3:02:30 PM : Underperform Start Price: $14.65 PES Score: +57.01

I see a few people giving this a big thumbs up, but screening it I see some problems in the cash flow. Cash flow has decreased since 2005 into negative territory for the March financials year to year. Capital expenditures have become huge. The income statement shows that gross and net profit margins peaked and have headed down.

I'm liking the P/E and the lack of long term debt,obviously, and the fact that growth in revenue and profit is still there, but am wary of the slowing margins as I noted above.

Member Avatar fonz1921 (30.68) Submitted: 7/31/2007 10:38:56 PM
Recs: 2

read their presentation at the last energy conf. CAP ex is going to be cut in half next year. The rig build program is over. Your looking at 80 million hitting cash flow just from reduction in Cap EX...

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