Pioneer Energy Services (PES) Upgraded by ValuEngine to Sell
ValuEngine upgraded shares of Pioneer Energy Services (NYSE:PES) from a strong sell rating to a sell rating in a report published on Thursday.
Several other analysts have also recently issued reports on PES. Wells Fargo & Co cut Pioneer Energy Services from an outperform rating to a market perform rating in a research note on Monday, October 16th. Jefferies Group reiterated a buy rating and issued a $3.00 price objective on shares of Pioneer Energy Services in a research note on Friday, November 10th. Zacks Investment Research cut Pioneer Energy Services from a buy rating to a hold rating in a research note on Saturday, October 7th. Goldman Sachs Group cut Pioneer Energy Services from a buy rating to a neutral rating in a research note on Thursday, October 12th. Finally, Seaport Global Securities upgraded Pioneer Energy Services from a neutral rating to a buy rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $4.41.
Pioneer Energy Services (PES) traded up $0.45 during trading hours on Thursday, reaching $3.80. The company’s stock had a trading volume of 1,985,000 shares, compared to its average volume of 1,659,533. The company has a quick ratio of 1.61, a current ratio of 1.75 and a debt-to-equity ratio of 1.77. Pioneer Energy Services has a one year low of $1.60 and a one year high of $7.20. The firm has a market capitalization of $295.33, a PE ratio of -2.84 and a beta of 2.92.
Pioneer Energy Services (NYSE:PES) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Pioneer Energy Services had a negative return on equity of 26.46% and a negative net margin of 25.19%. The firm had revenue of $117.28 million for the quarter, compared to analyst estimates of $114.82 million. During the same quarter last year, the company earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. equities analysts predict that Pioneer Energy Services will post -0.68 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Pioneer Energy Services by 114.4% in the second quarter. Victory Capital Management Inc. now owns 363,851 shares of the oil and gas company’s stock valued at $746,000 after acquiring an additional 194,144 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Pioneer Energy Services by 17.3% in the second quarter. Parametric Portfolio Associates LLC now owns 506,420 shares of the oil and gas company’s stock valued at $1,038,000 after buying an additional 74,725 shares during the last quarter. Franklin Resources Inc. increased its holdings in Pioneer Energy Services by 93.8% in the second quarter. Franklin Resources Inc. now owns 2,912,950 shares of the oil and gas company’s stock valued at $5,972,000 after buying an additional 1,410,000 shares during the last quarter. FMR LLC purchased a new position in Pioneer Energy Services in the second quarter valued at $1,584,000. Finally, Vanguard Group Inc. increased its holdings in Pioneer Energy Services by 3.7% in the second quarter. Vanguard Group Inc. now owns 3,797,501 shares of the oil and gas company’s stock valued at $7,785,000 after buying an additional 134,045 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.
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Pioneer Energy Services Company Profile
Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.
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