SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Friday reported a loss of $12.6 million in its fourth quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 16 cents. Losses, adjusted for one-time gains and costs, came to 14 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The oil and gas drilling and production company posted revenue of $126.3 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $126.1 million.
For the year, the company reported that its loss narrowed to $75.1 million, or 97 cents per share. Revenue was reported as $446.5 million.
The company's shares closed at $2.90. A year ago, they were trading at $6.40.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PES at https://www.zacks.com/ap/PES