NEW YORK (TheStreet) -- Shares of Pioneer Energy Services (PES) were falling 12.8% to $8.92 Tuesday after missing analysts' estimates for earnings in the third quarter.

The oil and gas drilling and exploration company reported earnings of 9 cents a share, 6 cents lower than the Capital IQ Consensus Estimate of 15 cents a share. Revenue grew 5.2% from the year-ago quarter to $273.3 million, above analysts' estimates of $269.5 million for the quarter.

Pioneer Energy said it expects fourth-quarter production services segment revenue to fall about 5% to 7% compared to the third quarter due to normal seasonality. Product services segment margin as a percentage of revenue is expected to fall about 1% to 2% compared to the third quarter.

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TheStreet Ratings team rates PIONEER ENERGY SERVICES CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

TheStreet Recommends

"We rate PIONEER ENERGY SERVICES CORP (PES) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."

You can view the full analysis from the report here: PES Ratings Report

PES data by YCharts

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