Pioneer Energy Services (NYSE:PES) Shares Gap Down to $0.17

Pioneer Energy Services Corp (NYSE:PES)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $0.17, but opened at $0.17. Pioneer Energy Services shares last traded at $0.16, with a volume of 1,300 shares changing hands.

Several equities analysts have recently weighed in on PES shares. Zacks Investment Research upgraded Pioneer Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Piper Jaffray Companies downgraded Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. Imperial Capital reduced their price target on Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating for the company in a report on Thursday, May 30th. Finally, ValuEngine upgraded Pioneer Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.42.

The company has a quick ratio of 1.79, a current ratio of 2.01 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $14.17 million, a P/E ratio of -0.31 and a beta of 3.23. The firm’s 50-day simple moving average is $0.22.

Pioneer Energy Services (NYSE:PES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Pioneer Energy Services had a negative return on equity of 26.26% and a negative net margin of 8.09%. The company had revenue of $152.84 million for the quarter, compared to analysts’ expectations of $151.43 million. Equities analysts anticipate that Pioneer Energy Services Corp will post -0.59 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Pioneer Energy Services by 92.9% during the first quarter. BNP Paribas Arbitrage SA now owns 16,993 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 8,184 shares during the last quarter. SG Americas Securities LLC boosted its position in Pioneer Energy Services by 60.4% in the first quarter. SG Americas Securities LLC now owns 32,923 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 12,392 shares during the last quarter. Crossvault Capital Management LLC purchased a new position in Pioneer Energy Services in the first quarter worth about $64,000. Everence Capital Management Inc. boosted its position in Pioneer Energy Services by 133.0% in the first 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. Finally, OMERS ADMINISTRATION Corp purchased a new position in Pioneer Energy Services in the second quarter worth about $60,000. 70.29% of the stock is currently owned by institutional investors.

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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