Pioneer Energy Services Corp. (PES) Trading Down 9.6%
Shares of Pioneer Energy Services Corp. (NYSE:PES) dropped 9.6% during mid-day trading on Tuesday . The company traded as low as $4.27 and last traded at $4.34, with a volume of 567,830 shares changing hands. The stock had previously closed at $4.80.
PES has been the topic of a number of recent research reports. Piper Jaffray Cos. upgraded shares of Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a report on Wednesday, June 29th. Simmons reiterated a “neutral” rating and issued a $3.00 price objective (up from $2.00) on shares of Pioneer Energy Services Corp. in a report on Thursday, May 5th. Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a report on Wednesday. Finally, Wunderlich lifted their price objective 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.33.
The company’s market capitalization is $303.70 million. The company has a 50-day moving average price of $3.98 and a 200-day moving average price of $2.52.
Pioneer Energy Services Corp. (NYSE:PES) last posted its quarterly earnings results on Friday, April 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Pioneer Energy Services Corp.’s quarterly revenue was down 61.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Equities analysts predict that Pioneer Energy Services Corp. will post ($1.19) EPS for the current year.
In other Pioneer Energy Services Corp. news, Director C John Thompson sold 8,995 shares of the stock in a transaction that occurred 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 directly owns 47,661 shares in the company, valued at approximately $195,410.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Several institutional investors have bought and sold shares of PES. Matarin Capital Management LLC acquired a new position in Pioneer Energy Services Corp. during the fourth quarter worth about $1,330,000. Oxford Asset Management boosted 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 worth $2,581,000 after buying an additional 166,379 shares in the last quarter. Finally, First Trust Advisors LP boosted 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 worth $1,972,000 after buying an additional 510,136 shares in the last quarter.
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.