Pioneer Energy Services (PES) Shares Up 6.7%

Pioneer Energy Services Corp (NYSE:PES) shot up 6.7% during mid-day trading on Monday . The company traded as high as $4.10 and last traded at $4.00. 913,800 shares changed hands during trading, a decline of 32% from the average session volume of 1,351,122 shares. The stock had previously closed at $3.75.

A number of research firms have issued reports on PES. ValuEngine upgraded shares of Pioneer Energy Services from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Wednesday, January 10th. Imperial Capital began coverage on shares of Pioneer Energy Services in a report on Wednesday, October 4th. They set an “in-line” rating and a $3.00 price target for the company. Seaport Global Securities upgraded shares of Pioneer Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Finally, Goldman Sachs Group cut shares of Pioneer Energy Services from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.50.

The firm has a market capitalization of $310.88, a PE ratio of -2.72 and a beta of 2.92. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77.

Pioneer Energy Services (NYSE:PES) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $117.28 million for the quarter, compared to analyst estimates of $114.82 million. Pioneer Energy Services had a negative net margin of 25.19% and a negative return on equity of 26.46%. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.29) EPS. research analysts anticipate that Pioneer Energy Services Corp will post -0.68 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van Den Berg Management I Inc. raised its position in shares of Pioneer Energy Services by 3.0% during the third quarter. Van Den Berg Management I Inc. now owns 6,918,334 shares of the oil and gas company’s stock valued at $17,642,000 after buying an additional 204,335 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Pioneer Energy Services by 3.7% during 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. Macquarie Group Ltd. raised its position in shares of Pioneer Energy Services by 67.1% during the third quarter. Macquarie Group Ltd. now owns 3,440,687 shares of the oil and gas company’s stock valued at $8,774,000 after buying an additional 1,382,209 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Pioneer Energy Services by 93.8% during 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. Finally, Balyasny Asset Management LLC raised its position in shares of Pioneer Energy Services by 390.0% during the second quarter. Balyasny Asset Management LLC now owns 2,088,468 shares of the oil and gas company’s stock valued at $4,281,000 after buying an additional 1,662,241 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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About Pioneer Energy Services

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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