Pioneer Energy Services Corp (NYSE:PES) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 12,292,700 shares, an increase of 25.6% from the May 30th total of 9,790,100 shares. Approximately 16.3% of the company’s shares are short sold. Based on an average trading volume of 3,700,000 shares, the short-interest ratio is currently 3.3 days.
PES has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Piper Jaffray Companies lowered shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. Finally, Imperial Capital cut their price target on shares of Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Pioneer Energy Services currently has a consensus rating of “Hold” and a consensus target price of $2.79.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Pioneer Energy Services by 1.4% in the 4th quarter. BlackRock Inc. now owns 11,327,120 shares of the oil and gas company’s stock worth $13,932,000 after purchasing an additional 151,504 shares during the period. Macquarie Group Ltd. lifted its position in Pioneer Energy Services by 17.4% during the 4th quarter. Macquarie Group Ltd. now owns 6,783,848 shares of the oil and gas company’s stock valued at $8,344,000 after acquiring an additional 1,004,338 shares during the period. Geode Capital Management LLC lifted its position in Pioneer Energy Services by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 812,842 shares of the oil and gas company’s stock valued at $999,000 after acquiring an additional 48,553 shares during the period. Morgan Stanley lifted its position in Pioneer Energy Services by 175.1% during the 3rd quarter. Morgan Stanley now owns 530,544 shares of the oil and gas company’s stock valued at $1,565,000 after acquiring an additional 337,716 shares during the period. Finally, Bank of America Corp DE lifted its position in Pioneer Energy Services by 8.9% during the 4th quarter. Bank of America Corp DE now owns 474,723 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 38,857 shares during the period. 72.40% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:PES traded down $0.02 on Friday, hitting $0.27. The company had a trading volume of 5,751,866 shares, compared to its average volume of 4,932,377. The stock’s 50-day moving average is $0.30. Pioneer Energy Services has a 1 year low of $0.21 and a 1 year high of $5.70. The company has a quick ratio of 1.80, a current ratio of 1.99 and a debt-to-equity ratio of 3.13. The company has a market cap of $22.36 million, a price-to-earnings ratio of -0.51 and a beta of 3.26.
Pioneer Energy Services (NYSE:PES) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $143.93 million. As a group, research analysts forecast that Pioneer Energy Services will post -0.51 EPS for the current fiscal year.
About Pioneer Energy Services
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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