Pioneer Energy Services Corp. (PES) Trading 4% Higher

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Shares of Pioneer Energy Services Corp. (NYSE:PES) traded up 4% on Monday . The company traded as high as $3.46 and last traded at $3.41, with a volume of 538,212 shares. The stock had previously closed at $3.28.
A number of analysts have weighed in on the stock. Simmons raised shares of Pioneer Energy Services Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $3.00 to $5.25 in a research note on Wednesday, June 29th. DA Davidson assumed coverage on shares of Pioneer Energy Services Corp. in a research note on Thursday. They set a “buy” rating and a $5.00 target price on the stock. Zacks Investment Research raised shares of Pioneer Energy Services Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. Piper Jaffray Cos. raised shares of Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Wells Fargo & Co. raised shares of Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 18th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.72.
The stock’s market cap is $220.25 million. The stock’s 50-day moving average is $3.43 and its 200-day moving average is $3.30.

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Pioneer Energy Services Corp. (NYSE:PES) last posted its earnings results on Thursday, July 28th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. Pioneer Energy Services Corp. had a negative net margin of 35.38% and a negative return on equity of 21.42%. The business had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $65.75 million. During the same period in the prior year, the company posted ($0.17) EPS. The business’s revenue for the quarter was down 53.9% compared to the same quarter last year. Equities research analysts expect that Pioneer Energy Services Corp. will post ($1.24) EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in Pioneer Energy Services Corp. by 2.8% in the first quarter. Acadian Asset Management LLC now owns 1,637,656 shares of the company’s stock valued at $3,602,000 after buying an additional 44,030 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pioneer Energy Services Corp. by 29.5% in the first quarter. Prudential Financial Inc. now owns 188,451 shares of the company’s stock valued at $415,000 after buying an additional 42,877 shares in the last quarter. Franklin Resources Inc. boosted its stake in Pioneer Energy Services Corp. by 35.1% in the first quarter. Franklin Resources Inc. now owns 2,058,722 shares of the company’s stock valued at $4,529,000 after buying an additional 534,900 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Pioneer Energy Services Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,737,743 shares of the company’s stock valued at $3,823,000 after buying an additional 8,162 shares in the last quarter. Finally, Spark Investment Management LLC boosted its stake in Pioneer Energy Services Corp. by 491.3% in the first quarter. Spark Investment Management LLC now owns 447,600 shares of the company’s stock valued at $984,000 after buying an additional 371,900 shares in the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.
About Pioneer Energy Services Corp.
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.

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