ValuEngine upgraded shares of Pioneer Energy Services (NYSE:PES) from a hold rating to a buy rating in a research note released on Friday.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Pioneer Energy Services from a hold rating to a buy rating and set a $5.00 target price on the stock in a research report on Tuesday, May 8th. Jefferies Financial Group set a $4.00 target price on Pioneer Energy Services and gave the stock a buy rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Pioneer Energy Services presently has a consensus rating of Buy and a consensus price target of $3.69.
Shares of Pioneer Energy Services opened at $5.15 on Friday, according to Marketbeat Ratings. The stock has a market cap of $367.21 million, a price-to-earnings ratio of -7.36 and a beta of 3.11. The company has a quick ratio of 2.41, a current ratio of 2.61 and a debt-to-equity ratio of 2.31. Pioneer Energy Services has a 1 year low of $1.60 and a 1 year high of $6.35.
Pioneer Energy Services (NYSE:PES) last posted its earnings results on Wednesday, May 2nd. The oil and gas company reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.04. Pioneer Energy Services had a negative return on equity of 20.97% and a negative net margin of 12.35%. The business had revenue of $144.48 million for the quarter, compared to analysts’ expectations of $136.01 million. equities research analysts expect that Pioneer Energy Services will post -0.27 EPS for the current fiscal year.
In other news, Director C John Thompson sold 6,666 shares of Pioneer Energy Services stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $4.25, for a total transaction of $28,330.50. Following the sale, the director now owns 41,818 shares in the company, valued at $177,726.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.05% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of PES. Van Den Berg Management I Inc. increased its position in shares of Pioneer Energy Services by 8.6% during the fourth quarter. Van Den Berg Management I Inc. now owns 7,515,234 shares of the oil and gas company’s stock worth $22,921,000 after purchasing an additional 596,900 shares in the last quarter. Saba Capital Management L.P. acquired a new position in Pioneer Energy Services in the 1st quarter valued at about $1,123,000. Guggenheim Capital LLC increased its position in Pioneer Energy Services by 647.2% in the 4th quarter. Guggenheim Capital LLC now owns 475,868 shares of the oil and gas company’s stock valued at $1,450,000 after acquiring an additional 412,181 shares during the period. Macquarie Group Ltd. increased its position in Pioneer Energy Services by 11.4% in the 4th quarter. Macquarie Group Ltd. now owns 3,832,657 shares of the oil and gas company’s stock valued at $11,690,000 after acquiring an additional 391,970 shares during the period. Finally, BlackRock Inc. increased its position in Pioneer Energy Services by 3.6% in the 1st quarter. BlackRock Inc. now owns 10,913,123 shares of the oil and gas company’s stock valued at $29,466,000 after acquiring an additional 375,824 shares during the period. Institutional investors and hedge funds own 71.25% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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