Pioneer Energy Services (NYSE:PES) Trading Down 5.6%

Pioneer Energy Services Corp (NYSE:PES)’s share price fell 5.6% on Tuesday . The company traded as low as $0.18 and last traded at $0.17, 43,177 shares were traded during trading. A decline of 99% from the average session volume of 5,091,020 shares. The stock had previously closed at $0.18.

A number of research firms have recently weighed in on PES. Imperial Capital cut 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. Zacks Investment Research lowered shares of Pioneer Energy Services from a “hold” rating to a “sell” rating in a research note on Friday. Piper Jaffray Companies lowered shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research note on Thursday, June 27th. Finally, ValuEngine upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Pioneer Energy Services presently has an average rating of “Hold” and an average target price of $2.42.

The stock’s 50 day simple moving average is $0.24. The company has a debt-to-equity ratio of 3.42, a current ratio of 2.01 and a quick ratio of 1.79. The stock has a market cap of $15.23 million, a price-to-earnings ratio of -0.34 and a beta of 3.23.

Pioneer Energy Services (NYSE:PES) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $152.84 million for the quarter, compared to analyst estimates of $151.43 million. Pioneer Energy Services had a negative net margin of 8.09% and a negative return on equity of 26.26%. As a group, sell-side analysts expect that Pioneer Energy Services Corp will post -0.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan acquired a new stake in Pioneer Energy Services in the 4th quarter worth $308,000. Everence Capital Management Inc. grew 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 purchasing an additional 47,890 shares during the last quarter. BlackRock Inc. grew its position in Pioneer Energy Services by 1.4% in the 4th quarter. BlackRock Inc. now owns 11,327,120 shares of the oil and gas company’s stock worth $13,932,000 after purchasing an additional 151,504 shares during the last quarter. Geode Capital Management LLC grew its position in Pioneer Energy Services by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 812,842 shares of the oil and gas company’s stock worth $999,000 after purchasing an additional 48,553 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in Pioneer Energy Services by 11.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 238,420 shares of the oil and gas company’s stock worth $293,000 after purchasing an additional 23,582 shares during the last quarter. Institutional investors own 71.76% of the company’s stock.

Pioneer Energy Services Company Profile (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.

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