Pioneer Energy Services Corp. (PES) Trading 5.9% Higher
Pioneer Energy Services Corp. (NYSE:PES) shares traded 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 trading hands. The stock had previously closed at $4.41.
A number of research analysts recently commented on the company. Simmons restated a “neutral” rating and issued a $3.00 target price (up from $2.00) on shares of Pioneer Energy Services Corp. in a research note on Thursday, May 5th. Wunderlich upped their target price on Pioneer Energy Services Corp. from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, May 2nd. Zacks Investment Research upgraded Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Wednesday. Finally, Piper Jaffray Cos. upgraded Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Pioneer Energy Services Corp. has an average rating of “Hold” and a consensus target price of $3.33.
The company has a 50 day moving average of $4.08 and a 200 day moving average of $2.55. The firm’s market cap is $300.27 million.
Pioneer Energy Services Corp. (NYSE:PES) last issued its earnings results on Friday, April 29th. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The business had revenue of $75 million for the quarter, compared to the consensus estimate of $80.57 million. The business’s revenue was down 61.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, equities analysts expect that Pioneer Energy Services Corp. will post ($1.19) EPS for the current fiscal year.
In related news, Director C John Thompson sold 8,995 shares of the business’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $4.10, for a total value of $36,879.50. Following the completion of the sale, the director now directly owns 47,661 shares in the company, valued at approximately $195,410.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in the stock. Matarin Capital Management LLC purchased a new stake in Pioneer Energy Services Corp. during the fourth quarter valued at about $1,330,000. First Trust Advisors LP increased its stake in 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 during the period. Finally, Oxford Asset Management increased its stake in 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 during the period.
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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