Pioneer Energy Services (NYSE:PES) Shares Down 3.6%
Pioneer Energy Services Corp (NYSE:PES)’s share price was down 3.6% during mid-day trading on Friday . The stock traded as low as $0.26 and last traded at $0.27, approximately 5,727,465 shares traded hands during trading. An increase of 163% from the average daily volume of 2,174,249 shares. The stock had previously closed at $0.28.
Several equities research analysts recently issued reports on PES shares. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Imperial Capital decreased their price target on shares of Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating on the stock in a report on Thursday, May 30th. Finally, Piper Jaffray Companies lowered shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.79.
The company has a quick ratio of 1.80, a current ratio of 1.99 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $21.43 million, a PE ratio of -0.51 and a beta of 3.26. The business has a fifty day moving average of $0.30.
Institutional investors and hedge funds have recently bought and sold shares of the business. Everence Capital Management Inc. raised its position in Pioneer Energy Services by 133.0% in the 1st quarter. Everence Capital Management Inc. now owns 83,910 shares of the oil and gas company’s stock worth $149,000 after buying an additional 47,890 shares during the last quarter. Rhumbline Advisers raised its position in Pioneer Energy Services by 29.5% in the 1st quarter. Rhumbline Advisers now owns 336,828 shares of the oil and gas company’s stock worth $596,000 after buying an additional 76,755 shares during the last quarter. SG Americas Securities LLC raised its position in Pioneer Energy Services by 60.4% in the 1st quarter. SG Americas Securities LLC now owns 32,923 shares of the oil and gas company’s stock worth $58,000 after buying an additional 12,392 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Pioneer Energy Services by 92.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,993 shares of the oil and gas company’s stock worth $30,000 after buying an additional 8,184 shares during the last quarter. Finally, Crossvault Capital Management LLC purchased a new position in Pioneer Energy Services in the 1st quarter worth about $64,000. 72.40% of the stock is currently owned by hedge funds and other institutional investors.
About Pioneer Energy Services (NYSE:PES)
Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies. It provides contract land drilling services in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, as well as in Colombia. The company operates 16 AC rigs in the United States and 8 SCR rigs in Colombia.
Recommended Story: Growth and Income Funds
Receive News & Ratings for Pioneer Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.