Pioneer Energy Services Corp. (PES) Shares Up 5.9%
Shares of Pioneer Energy Services Corp. (NYSE:PES) shot up 5.9% during trading on Friday . The company traded as high as $4.69 and last traded at $4.67, with a volume of 452,335 shares changing hands. The stock had previously closed at $4.41.
A number of brokerages have recently commented on PES. Wunderlich boosted their target price on shares of Pioneer Energy Services Corp. from $2.00 to $3.00 and gave the company a “hold” rating in a report on Monday, May 2nd. Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research note on Wednesday. Simmons reiterated a “neutral” rating and issued a $3.00 price target (up previously from $2.00) on shares of Pioneer Energy Services Corp. in a research note on Thursday, May 5th. Finally, Piper Jaffray Cos. upgraded shares of Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Pioneer Energy Services Corp. presently has an average rating of “Hold” and a consensus target price of $3.33.
The company’s market cap is $300.27 million. The stock’s 50-day moving average is $4.02 and its 200-day moving average is $2.53.
Pioneer Energy Services Corp. (NYSE:PES) last released its earnings results on Friday, April 29th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. During the same quarter in the previous year, the business earned ($0.13) EPS. The business earned $75 million during the quarter, compared to analysts’ expectations of $80.57 million. The business’s revenue for the quarter was down 61.3% on a year-over-year basis. On average, equities analysts forecast that Pioneer Energy Services Corp. will post ($1.19) earnings per share for the current fiscal year.
In other news, Director C John Thompson sold 8,995 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $4.10, for a total transaction of $36,879.50. Following the transaction, the director now owns 47,661 shares in the company, valued at $195,410.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Other institutional investors have recently made changes to their positions in the company. Oxford Asset Management raised its position in shares of Pioneer Energy Services Corp. by 15.9% in the fourth quarter. Oxford Asset Management now owns 1,211,949 shares of the company’s stock valued at $2,581,000 after buying an additional 166,379 shares in the last quarter. First Trust Advisors LP raised its position in shares of Pioneer Energy Services Corp. by 127.9% in the fourth quarter. First Trust Advisors LP now owns 908,911 shares of the company’s stock valued at $1,972,000 after buying an additional 510,136 shares in the last quarter. Finally, Matarin Capital Management LLC purchased a new position in shares of Pioneer Energy Services Corp. during the fourth quarter valued at approximately $1,330,000.
Pioneer Energy Services Corp. provides land-based drilling services and production services to oil and gas exploration, and production companies in the United States and internationally in Colombia. The Company operates through two segments: Drilling Services and Production Services. The Drilling Services Segment provides contract land drilling services to a group of exploration and production companies through its four drilling divisions in the United States, and internationally in Colombia.
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