Pioneer Energy Services Corp. (PES) Trading 5.4% Higher

Shares of Pioneer Energy Services Corp. (NYSE:PES) traded up 5.4% during trading on Friday . The company traded as high as $2.05 and last traded at $1.95. 1,408,215 shares changed hands during mid-day trading, an increase of 139% from the average session volume of 590,382 shares. The stock had previously closed at $1.85.

Several research firms recently issued reports on PES. Wells Fargo & Co lowered Pioneer Energy Services Corp. from an “outperform” rating to a “market perform” rating in a report on Monday. Seaport Global Securities reiterated a “neutral” rating on shares of Pioneer Energy Services Corp. in a report on Wednesday, August 2nd. ValuEngine upgraded Pioneer Energy Services Corp. from a “strong sell” rating to a “sell” rating in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) lowered Pioneer Energy Services Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, Imperial Capital began coverage on Pioneer Energy Services Corp. in a report on Wednesday, October 4th. They set an “in-line” rating and a $3.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.03.

The stock’s 50 day moving average is $2.22 and its 200-day moving average is $2.46. The firm’s market cap is $150.88 million.

Pioneer Energy Services Corp. (NYSE:PES) last posted its earnings results on Tuesday, August 1st. The oil and gas company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.03). Pioneer Energy Services Corp. had a negative return on equity of 28.63% and a negative net margin of 33.86%. The firm had revenue of $107.13 million for the quarter, compared to the consensus estimate of $105.23 million. During the same period in the prior year, the business earned ($0.30) EPS. Pioneer Energy Services Corp.’s quarterly revenue was up 72.0% compared to the same quarter last year. Equities research analysts forecast that Pioneer Energy Services Corp. will post ($0.66) EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund lifted its position in shares of Pioneer Energy Services Corp. by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 56,423 shares of the oil and gas company’s stock worth $116,000 after buying an additional 472 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Pioneer Energy Services Corp. by 0.7% during the 1st quarter. Prudential Financial Inc. now owns 169,106 shares of the oil and gas company’s stock worth $676,000 after buying an additional 1,160 shares in the last quarter. Comerica Bank lifted its position in shares of Pioneer Energy Services Corp. by 4.5% during the 1st quarter. Comerica Bank now owns 85,152 shares of the oil and gas company’s stock worth $272,000 after buying an additional 3,682 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Pioneer Energy Services Corp. by 10.0% during the 1st quarter. Tudor Investment Corp ET AL now owns 56,555 shares of the oil and gas company’s stock worth $226,000 after buying an additional 5,123 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Pioneer Energy Services Corp. by 9.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 59,160 shares of the oil and gas company’s stock worth $237,000 after buying an additional 5,206 shares in the last quarter. 73.95% of the stock is currently owned by hedge funds and other institutional investors.

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About Pioneer Energy Services Corp.

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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