Insider Selling: Joseph Brooks Eustace Unloads 147,475 Shares of Pioneer Energy Services Corp Stock (PES)
Pioneer Energy Services Corp (NYSE:PES) EVP Joseph Brooks Eustace unloaded 147,475 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $15.36, for a total transaction of $2,265,216.00. Following the transaction, the executive vice president now directly owns 55,116 shares in the company, valued at approximately $846,582. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on PES. Analysts at Zacks upgraded shares of Pioneer Energy Services Corp from a “neutral” rating to an “outperform” rating in a research note on Monday, August 4th. They now have a $19.20 price target on the stock. Separately, analysts at Global Hunter Securities raised their price target on shares of Pioneer Energy Services Corp from $14.00 to $19.00 in a research note on Wednesday, July 16th. Finally, analysts at Goldman Sachs raised their price target on shares of Pioneer Energy Services Corp from $18.00 to $20.50 in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.12.
Pioneer Energy Services Corp (NYSE:PES) traded down 0.52% during mid-day trading on Thursday, hitting $15.34. The stock had a trading volume of 578,569 shares. Pioneer Energy Services Corp has a 1-year low of $6.72 and a 1-year high of $18.40. The stock has a 50-day moving average of $16.11 and a 200-day moving average of $14.44. The company’s market cap is $964.5 million. Pioneer Energy Services Corp also saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 1,987,438 shares, a growth of 55.3% from the July 31st total of 1,279,422 shares. Based on an average daily volume of 1,007,487 shares, the short-interest ratio is currently 2.0 days. Approximately 3.2% of the company’s stock are short sold.
Pioneer Energy Services Corp (NYSE:PES) last announced its earnings results on Thursday, July 31st. The company reported $0.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.07. The company had revenue of $259.80 million for the quarter, compared to the consensus estimate of $254.40 million. During the same quarter last year, the company posted $0.02 earnings per share. Pioneer Energy Services Corp’s revenue was up 4.6% compared to the same quarter last year. Analysts expect that Pioneer Energy Services Corp will post $0.46 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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