Schwab Charles Investment Management Inc. grew its position in Pioneer Energy Services (NYSE:PES) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,516,789 shares of the oil and gas company’s stock after purchasing an additional 299,737 shares during the quarter. Schwab Charles Investment Management Inc. owned about 1.95% of Pioneer Energy Services worth $4,627,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in Pioneer Energy Services by 6.5% in the second quarter. Wells Fargo & Company MN now owns 133,963 shares of the oil and gas company’s stock worth $275,000 after purchasing an additional 8,227 shares during the last quarter. Northern Trust Corp grew its holdings in Pioneer Energy Services by 5.0% in the second quarter. Northern Trust Corp now owns 848,918 shares of the oil and gas company’s stock worth $1,740,000 after purchasing an additional 40,516 shares during the last quarter. Royce & Associates LP grew its holdings in Pioneer Energy Services by 16.0% in the third quarter. Royce & Associates LP now owns 410,100 shares of the oil and gas company’s stock worth $1,046,000 after purchasing an additional 56,600 shares during the last quarter. Citadel Advisors LLC purchased a new position in Pioneer Energy Services in the third quarter worth $188,000. Finally, Parametric Portfolio Associates LLC grew its holdings in Pioneer Energy Services by 17.3% in the second quarter. Parametric Portfolio Associates LLC now owns 506,420 shares of the oil and gas company’s stock worth $1,038,000 after purchasing an additional 74,725 shares during the last quarter. 73.47% of the stock is currently owned by institutional investors and hedge funds.
In other Pioneer Energy Services news, Director C John Thompson sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $2.94, for a total value of $73,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 31,015 shares of company stock worth $91,805. 6.05% of the stock is owned by corporate insiders.
Shares of PES traded down $0.10 during trading hours on Friday, reaching $2.60. 269,092 shares of the company traded hands, compared to its average volume of 522,871. Pioneer Energy Services has a 12-month low of $1.60 and a 12-month high of $4.50. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.54 and a quick ratio of 2.37.
Pioneer Energy Services (NYSE:PES) last posted its quarterly earnings results on Friday, February 16th. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Pioneer Energy Services had a negative net margin of 16.83% and a negative return on equity of 23.31%. The business had revenue of $126.29 million during the quarter, compared to analysts’ expectations of $125.99 million. During the same period in the previous year, the company posted ($0.34) earnings per share. Pioneer Energy Services’s revenue for the quarter was up 76.7% compared to the same quarter last year. equities research analysts predict that Pioneer Energy Services will post -0.38 EPS for the current fiscal year.
Several research firms have issued reports on PES. Zacks Investment Research raised shares of Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Wednesday, January 10th. ValuEngine lowered shares of Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Seaport Global Securities raised shares of Pioneer Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Jefferies Group set a $4.00 price objective on shares of Pioneer Energy Services and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Capital One Financial reissued an “overweight” rating on shares of Pioneer Energy Services in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.67.
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About Pioneer Energy Services
Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies in the United States and Colombia. The company offers contract land drilling services in the Marcellus/Utica, Eagle Ford, Permian Basin, and Bakken regions, as well as in Colombia.
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