Pioneer Energy Services Corp (NYSE:PES) Shares Bought by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA increased its stake in Pioneer Energy Services Corp (NYSE:PES) by 92.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,993 shares of the oil and gas company’s stock after buying an additional 8,184 shares during the period. BNP Paribas Arbitrage SA’s holdings in Pioneer Energy Services were worth $30,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan bought a new stake in shares of Pioneer Energy Services in the fourth quarter worth $308,000. Mackay Shields LLC bought a new stake in shares of Pioneer Energy Services in the fourth quarter worth $44,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Pioneer Energy Services in the fourth quarter worth $37,000. Macquarie Group Ltd. increased its stake in shares of Pioneer Energy Services by 17.4% in the fourth quarter. Macquarie Group Ltd. now owns 6,783,848 shares of the oil and gas company’s stock worth $8,344,000 after buying an additional 1,004,338 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Pioneer Energy Services by 1.4% in the fourth quarter. BlackRock Inc. now owns 11,327,120 shares of the oil and gas company’s stock worth $13,932,000 after buying an additional 151,504 shares during the last quarter. Institutional investors and hedge funds own 72.40% of the company’s stock.

PES stock opened at $0.28 on Friday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.99 and a quick ratio of 1.80. Pioneer Energy Services Corp has a 1-year low of $0.25 and a 1-year high of $6.00. The firm has a market cap of $21.97 million, a price-to-earnings ratio of -0.54 and a beta of 3.62.

Pioneer Energy Services (NYSE:PES) last released its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.04. Pioneer Energy Services had a negative net margin of 8.95% and a negative return on equity of 26.33%. The firm had revenue of $146.57 million during the quarter, compared to analyst estimates of $143.93 million. Equities research analysts predict that Pioneer Energy Services Corp will post -0.51 earnings per share for the current fiscal year.

PES has been the subject of a number of research analyst reports. Imperial Capital dropped their price target on shares of Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating for the company in a research note on Thursday, May 30th. ValuEngine upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.19.

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Pioneer Energy Services Profile

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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Institutional Ownership by Quarter for Pioneer Energy Services (NYSE:PES)

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