Shares of Pioneer Energy Services Corp (NYSE:PES) were up 6.3% during trading on Monday . The stock traded as high as $2.19 and last traded at $2.18. Approximately 529,697 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 525,313 shares. The stock had previously closed at $2.05.
Several analysts have recently commented on PES shares. Simmons lowered their price objective on Pioneer Energy Services to $2.25 and set an “overweight” rating for the company in a research note on Thursday, December 27th. Piper Jaffray Companies set a $2.00 price objective on Pioneer Energy Services and gave the stock a “buy” rating in a research note on Thursday, December 27th. ValuEngine downgraded Pioneer Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Imperial Capital reissued an “in-line” rating and issued a $3.00 price objective on shares of Pioneer Energy Services in a research note on Thursday, January 10th. Finally, Capital One Financial downgraded Pioneer Energy Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.61.
The company has a quick ratio of 1.87, a current ratio of 2.05 and a debt-to-equity ratio of 2.81. The stock has a market cap of $161.63 million, a P/E ratio of -4.15 and a beta of 3.04.
Pioneer Energy Services (NYSE:PES) last issued its quarterly earnings results on Tuesday, February 19th. The oil and gas company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. The company had revenue of $141.51 million during the quarter, compared to the consensus estimate of $141.88 million. Pioneer Energy Services had a negative return on equity of 22.61% and a negative net margin of 8.31%. On average, analysts predict that Pioneer Energy Services Corp will post -0.46 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC increased its position in shares of Pioneer Energy Services by 1,030.5% during the fourth quarter. FNY Investment Advisers LLC now owns 26,046 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 23,742 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in Pioneer Energy Services during the fourth quarter valued at $37,000. Penn Capital Management Co. Inc. bought a new position in Pioneer Energy Services during the third quarter valued at $100,000. Mackay Shields LLC bought a new position in Pioneer Energy Services during the fourth quarter valued at $44,000. Finally, Virtu Financial LLC grew its holdings in Pioneer Energy Services by 314.7% during the fourth quarter. Virtu Financial LLC now owns 52,287 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 39,680 shares during the period. 73.52% of the stock is owned by institutional investors.
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About Pioneer Energy Services (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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