Pioneer Energy Services (PES) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of Pioneer Energy Services (NYSE:PES) from a strong sell rating to a sell rating in a research report released on Thursday morning.

PES has been the subject of a number of other research reports. Wells Fargo & Co lowered shares of Pioneer Energy Services from an outperform rating to a market perform rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Pioneer Energy Services from a hold rating to a buy rating and set a $3.00 price target for the company in a research note on Wednesday, October 4th. Imperial Capital began coverage on shares of Pioneer Energy Services in a research note on Wednesday, October 4th. They issued an in-line rating and a $3.00 price target for the company. Goldman Sachs Group lowered shares of Pioneer Energy Services from a buy rating to a neutral rating in a research note on Thursday, October 12th. Finally, Jefferies Group restated a buy rating and issued a $3.00 price target on shares of Pioneer Energy Services in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Pioneer Energy Services presently has a consensus rating of Hold and an average target price of $4.41.

Pioneer Energy Services (NYSE PES) traded down $0.25 on Thursday, hitting $3.55. 1,169,500 shares of the stock were exchanged, compared to its average volume of 1,537,050. The stock has a market capitalization of $275.90, a price-to-earnings ratio of -2.65 and a beta of 2.92. Pioneer Energy Services has a 12 month low of $1.60 and a 12 month high of $7.05. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.75 and a quick ratio of 1.61.

Pioneer Energy Services (NYSE:PES) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $117.28 million for the quarter, compared to analysts’ expectations of $114.82 million. Pioneer Energy Services had a negative net margin of 25.19% and a negative return on equity of 26.46%. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) EPS. analysts forecast that Pioneer Energy Services will post -0.68 earnings per share for the current year.

Several large investors have recently modified their holdings of PES. Royce & Associates LP increased its stake in Pioneer Energy Services by 16.0% during the third quarter. Royce & Associates LP now owns 410,100 shares of the oil and gas company’s stock valued at $1,046,000 after purchasing an additional 56,600 shares during the last quarter. Van Den Berg Management I Inc. increased its stake in Pioneer Energy Services by 3.0% during the third quarter. Van Den Berg Management I Inc. now owns 6,918,334 shares of the oil and gas company’s stock valued at $17,642,000 after purchasing an additional 204,335 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Pioneer Energy Services by 28.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,217,052 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 268,766 shares during the last quarter. Wells Fargo & Company MN increased its stake in Pioneer Energy Services by 58.4% during the third quarter. Wells Fargo & Company MN now owns 212,175 shares of the oil and gas company’s stock valued at $540,000 after purchasing an additional 78,212 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Pioneer Energy Services during the third quarter valued at $188,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Pioneer Energy Services (PES) Upgraded by ValuEngine to “Sell”” was reported by Community Financial News and is the property of of Community Financial News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.com-unik.info/2018/01/08/pioneer-energy-services-pes-upgraded-by-valuengine-to-sell.html.

About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

Receive News & Ratings for Pioneer Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit