The stock of Pioneer Energy Services Corp (NYSE:PES) hit a new 52-week high and has $5.67 target or 8.00% above today’s $5.25 share price. The 9 months bullish chart indicates low risk for the $371.33 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $5.67 price target is reached, the company will be worth $29.71M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.00% or $0.25 during the last trading session, hitting $5.25. About 1.40M shares traded hands or 136.20% up from the average. Pioneer Energy Services Corp (NYSE:PES) has risen 73.61% since April 28, 2016 and is uptrending. It has outperformed by 67.69% the S&P500.
Analysts await Pioneer Energy Services Corp (NYSE:PES) to report earnings on February, 15. They expect $-0.30 earnings per share, down 20.00% or $0.05 from last year’s $-0.25 per share. After $-0.29 actual earnings per share reported by Pioneer Energy Services Corp for the previous quarter, Wall Street now forecasts 3.45% negative EPS growth.
Pioneer Energy Services Corp (NYSE:PES) Ratings Coverage
Out of 10 analysts covering Pioneer Energy (NYSE:PES), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. Pioneer Energy has been the topic of 19 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Friday, July 31 by Deutsche Bank. The firm has “Hold” rating given on Monday, May 2 by Wunderlich. The firm has “Buy” rating given on Friday, September 2 by Jefferies. As per Thursday, September 15, the company rating was initiated by DA Davidson. As per Friday, September 30, the company rating was upgraded by Seaport Global Securities. Jefferies maintained the stock with “Hold” rating in Monday, July 11 report. The rating was upgraded by Simmons & Co on Wednesday, June 29 to “Overweight”. The stock of Pioneer Energy Services Corp (NYSE:PES) earned “Sector Perform” rating by Howard Weil on Friday, July 31. Piper Jaffray upgraded Pioneer Energy Services Corp (NYSE:PES) on Wednesday, June 29 to “Overweight” rating. Wells Fargo upgraded the shares of PES in a report on Monday, July 18 to “Outperform” rating.
According to Zacks Investment Research, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas.”
More recent Pioneer Energy Services Corp (NYSE:PES) news were published by: Fool.com which released: “Weak Earnings Weigh on Pioneer Energy Services Corp’s Stock” on July 28, 2016. Also Prnewswire.com published the news titled: “Pioneer Energy Services to Participate in the 2016 Stephens Fall Investment …” on November 03, 2016. Prnewswire.com‘s news article titled: “Pioneer Energy Services Reports Fourth Quarter 2015 Results” with publication date: February 17, 2016 was also an interesting one.
PES Company Profile
Pioneer Energy Services Corp., incorporated on November 14, 1979, provides land drilling services and production services to gas and oil exploration, and production companies in the United States and internationally in Colombia. The Firm operates through two divisions: Drilling Services and Production Services. The Firm also provides coiled tubing and wireline services offshore in the Gulf of Mexico.
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