Pioneer Energy Services Corp. C (NYSE:PES) Moving Aggressively - Down by 2.56%

Lloyd Doyle
October 24, 2017

That suggests something of the likelihood of a short squeeze in shares of PES. With short interest at 4,544,130 and short average daily volume at 600,073, the short-interest ratio is 8.0 and the percentage of shorted shares is 0.06% as of August 31. Approximately 3.9% of the company's stock are sold short.

In recent action, Pioneer Energy Services Corp. (NYSE:PES) opened at 1.95 on Thursday. Pioneer Energy Services Corp (NYSE:PES)'s price distance from 52-week high is -72.92 and from 52-week low is 21.88. The firm had revenue of $107.13 million during the quarter, compared to analysts' expectations of $105.23 million. The stock has a 50 day moving average price of $2.22 and a 200-day moving average price of $2.46.

Pioneer Energy Services Corp. had a negative return on equity of 24.83% and a negative net margin of 45.35%. (NYSE:PES) last announced its earnings results on Tuesday, August 1st. Analysts forecast earnings per share of $-0.13, up exactly $0.16 or 55.17 % from 2014's $-0.29 EPS. For PES, the company now has $6.89 Million of cash on the books. Pioneer Energy Services Corp (NYSE:PES) has trailing twelve month Return on Assets of -16.3%, which is key indicator of how profitable a company is relative to its total assets. Next quarter's EPS is estimated at $-0.11 with next year's EPS anticipated to be $-0.32. Pioneer Energy Services Corp. now has an average rating of "Hold" and an average price target of $5.03.

A number of large investors have recently modified their holdings of PES. Pioneer Energy Services Corp. earned a media sentiment score of 0.04 on Accern's scale. Dimensional Fund Advisors LP now owns 5,076,844 shares of the company's stock worth $23,354,000 after buying an additional 46,217 shares during the period. AXA purchased a new stake in shares of Pioneer Energy Services the first quarter valued at about $118,000. As of quarter end Point72 Asia (hong Kong) Ltd had acquired 2,497 shares growing its holdings by 70.6%. The Stock now has a Weekly Volatility of 9.91% and Monthly Volatility of 7.80%.

Analysts await Pioneer Energy Services Corp (NYSE:PES) to report earnings on November, 7. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company's stock. DA Davidson began coverage on Pioneer Energy Services a research note on Thursday, September 15th. The stock has been active on the tape, now trading at $1.95, up from yesterday's close by 5.41%. Goldman Sachs Group, Inc. On October 13, 2017 the stock rating was set at "Neutral" according to a Goldman Sachs report which is down from the previous "Neutral" rating.

While looking at the Stock's Performance, Pioneer Energy Services Corp. now shows a Weekly Performance of -7.14%, where Monthly Performance is -22%, Quarterly performance is -11.36%, 6 Months performance is -44.29% and yearly performance percentage is -54.12%. Finally, Jefferies Group raised Pioneer Energy Services Corp. from a "hold" rating to a "buy" rating and increased their target price for the stock from $5.00 to $6.00 in a research note on Friday, September 2nd. Wall Street is only getting more bullish on the stock, with 4 of analysts who cover PES having a buy-equivalent rating. Out of rating recommendations 1 have given the stock a Buy while 3 recommend the stock as Outperform.

Pioneer Energy Services Corp. provides land-based drilling services and production services to 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.

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