Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. (NYSE:PES) from a sell rating to a hold rating in a report released on Tuesday, July 25th.
According to Zacks, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas. “
PES has been the topic of a number of other reports. Deutsche Bank AG restated a hold rating and issued a $6.00 target price (down from $7.00) on shares of Pioneer Energy Services Corp. in a research note on Tuesday, May 30th. Seaport Global Securities cut shares of Pioneer Energy Services Corp. from a buy rating to a neutral rating and lowered their price target for the stock from $4.50 to $2.00 in a research report on Wednesday, June 21st. Finally, ValuEngine cut shares of Pioneer Energy Services Corp. from a sell rating to a strong sell rating in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Pioneer Energy Services Corp. has an average rating of Hold and an average target price of $5.19.
Pioneer Energy Services Corp. (NYSE:PES) opened at 2.25 on Tuesday. Pioneer Energy Services Corp. has a 52 week low of $1.70 and a 52 week high of $7.20. The stock has a 50 day moving average price of $2.14 and a 200-day moving average price of $3.75. The firm’s market capitalization is $174.10 million.
Pioneer Energy Services Corp. (NYSE:PES) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.03. The company had revenue of $107.13 million during the quarter, compared to the consensus estimate of $105.23 million. Pioneer Energy Services Corp. had a negative return on equity of 28.63% and a negative net margin of 33.86%. Pioneer Energy Services Corp.’s revenue was up 72.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Analysts anticipate that Pioneer Energy Services Corp. will post ($0.66) EPS for the current fiscal year.
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In related news, CEO Stacy Locke purchased 25,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was acquired at an average price of $2.74 per share, with a total value of $68,500.00. Following the completion of the acquisition, the chief executive officer now owns 961,267 shares in the company, valued at approximately $2,633,871.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.05% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PES. Dimensional Fund Advisors LP boosted its position in Pioneer Energy Services Corp. by 19.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,549,757 shares of the oil and gas company’s stock worth $26,199,000 after buying an additional 1,044,979 shares in the last quarter. Van Den Berg Management I Inc. boosted its position in Pioneer Energy Services Corp. by 104.1% in the first quarter. Van Den Berg Management I Inc. now owns 4,105,301 shares of the oil and gas company’s stock worth $16,421,000 after buying an additional 2,094,010 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Pioneer Energy Services Corp. during the first quarter worth about $7,571,000. State Street Corp boosted its position in Pioneer Energy Services Corp. by 9.9% in the fourth quarter. State Street Corp now owns 1,701,406 shares of the oil and gas company’s stock worth $11,652,000 after buying an additional 153,557 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Pioneer Energy Services Corp. by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,355,689 shares of the oil and gas company’s stock worth $5,423,000 after buying an additional 18,809 shares in the last quarter. 80.73% of the stock is owned by institutional investors and hedge funds.
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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