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.
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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