Pioneer Energy Services Corp Stock Price Down 2% on Insider Selling (PES)
Pioneer Energy Services Corp (NYSE:PES) shares traded down 2% during trading on Friday after an insider sold shares in the company, AR Network reports. The stock traded as low as $15.00 and last traded at $15.04, with a volume of 303,966 shares trading hands. The stock had previously closed at $15.34.
Specifically, EVP Joseph Brooks Eustace sold 147,475 shares of Pioneer Energy Services Corp stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $15.36, for a total transaction of $2,265,216.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.12.
The stock has a 50-day moving average of $16.04 and a 200-day moving average of $14.45. The company’s market cap is $945.1 million. Pioneer Energy Services Corp also saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 1,987,438 shares, an increase of 55.3% from the July 31st total of 1,279,422 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average daily volume of 1,007,487 shares, the days-to-cover ratio is presently 2.0 days.
Pioneer Energy Services Corp (NYSE:PES) last released its earnings data on Thursday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts predict that Pioneer Energy Services Corp will post $0.46 earnings per share 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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