Pioneer Energy Services Corp. (PES) Shares Up 5.4%
Pioneer Energy Services Corp. (NYSE:PES) was up 5.4% during mid-day trading on Wednesday . The stock traded as high as $2.99 and last traded at $2.92, with a volume of 897,111 shares traded. The stock had previously closed at $2.77.
A number of research analysts have issued reports on PES shares. Zacks Investment Research upgraded Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Wednesday, July 6th. Jefferies Group upped their price objective on Pioneer Energy Services Corp. from $3.50 to $5.00 and gave the company a “hold” rating in a research note on Monday, July 11th. Wunderlich upped their price objective 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. Piper Jaffray Cos. upgraded Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Simmons restated a “neutral” rating and issued a $3.00 price objective (up previously from $2.00) on shares of Pioneer Energy Services Corp. in a research note on Thursday, May 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $3.44.
The company’s 50-day moving average price is $4.15 and its 200 day moving average price is $2.79. The stock’s market cap is $188.51 million.
Pioneer Energy Services Corp. (NYSE:PES) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.01. During the same quarter in the previous year, the firm posted ($0.17) EPS. The company had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $65.75 million. The firm’s quarterly revenue was down 53.9% compared to the same quarter last year. Equities analysts forecast that Pioneer Energy Services Corp. will post ($1.23) earnings per share for the current fiscal year.
In other Pioneer Energy Services Corp. news, Director C John Thompson sold 8,995 shares of Pioneer Energy Services Corp. 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 completion of the transaction, the director now owns 47,661 shares in the company, valued at $195,410.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
An institutional investor recently raised its position in Pioneer Energy Services Corp. stock. First Trust Advisors LP increased its position in shares of Pioneer Energy Services Corp. (NYSE:PES) by 127.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 908,911 shares of the company’s stock after buying an additional 510,136 shares during the period. First Trust Advisors LP owned about 1.41% of Pioneer Energy Services Corp. worth $1,972,000 at the end of the most recent reporting 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.