Pioneer Energy Services Corp Sets New 52-Week High After Analyst Upgrade (PES)
Pioneer Energy Services Corp (NYSE:PES)’s share price hit a new 52-week high during mid-day trading on Tuesday after Jefferies Group raised their price target on the stock from $8.50 to $10.00, Analyst Ratings News reports. The stock traded as high as $9.96 and last traded at $9.94, with a volume of 659,168 shares changing hands. The stock had previously closed at $9.63.
A number of other firms have also recently commented on PES. Analysts at Global Hunter Securities upgraded shares of Pioneer Energy Services Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 12th. They now have a $11.00 price target on the stock, up previously from $9.00. Separately, analysts at Zacks downgraded shares of Pioneer Energy Services Corp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 4th. They now have a $9.20 price target on the stock. Finally, analysts at Wunderlich upgraded shares of Pioneer Energy Services Corp from a “sell” rating to a “hold” rating in a research note on Monday, December 16th. They now have a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.44.
The stock’s 50-day moving average is $8.35 and its 200-day moving average is $7.7. The company’s market cap is $618.8 million.
Pioneer Energy Services Corp (NYSE:PES) last released its earnings data on Wednesday, February 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. The company had revenue of $238.18 million for the quarter, compared to the consensus estimate of $226.75 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Pioneer Energy Services Corp will post $-0.01 EPS for the current fiscal year.
Pioneer Energy Services Corp., formerly Pioneer Drilling Company, provides drilling and production services to independent oil and gas exploration and production companies throughout much of the onshore oil and gas producing regions of the United States and internationally in Colombia.
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