What Will Happen to Pioneer Energy Services Corp. (PES) Next? The Stock Just Reaches 52-Week High

May 17, 2018 - By Jason Grubb

The stock of Pioneer Energy Services Corp. (NYSE:PES) hit a new 52-week high and has $6.19 target or 4.00 % above today’s $5.95 share price. The 5 months bullish chart indicates low risk for the $462.89M company. The 1-year high was reported on May, 17 by Barchart.com. If the $6.19 price target is reached, the company will be worth $18.52M 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 5.31% or $0.3 during the last trading session, reaching $5.95. About 972,745 shares traded or 69.15% up from the average. Pioneer Energy Services Corp. (NYSE:PES) has declined 28.95% since May 17, 2017 and is downtrending. It has underperformed by 40.50% the S&P500.

Analysts await Pioneer Energy Services Corp. (NYSE:PES) to report earnings on August, 7. They expect $-0.07 earnings per share, up 66.67 % or $0.14 from last year’s $-0.21 per share. After $-0.09 actual earnings per share reported by Pioneer Energy Services Corp. for the previous quarter, Wall Street now forecasts -22.22 % EPS growth.

Pioneer Energy Services Corp. (NYSE:PES) Ratings Coverage

Among 3 analysts covering Pioneer Energy Services (NYSE:PES), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Pioneer Energy Services had 4 analyst reports since December 20, 2017 according to SRatingsIntel. The rating was maintained by Piper Jaffray on Monday, March 5 with “Buy”. The rating was upgraded by Seaport Global to “Buy” on Wednesday, December 20. Jefferies maintained it with “Buy” rating and $4.0 target in Monday, February 26 report. The firm has “Buy” rating by Seaport Global given on Wednesday, January 17.

Another recent and important Pioneer Energy Services Corp. (NYSE:PES) news was published by Seekingalpha.com which published an article titled: “Pioneer Energy Services’ (PES) CEO Stacy Locke on Q1 2018 Results – Earnings Call Transcript” on May 02, 2018.

Pioneer Energy Services Corp. provides land drilling and production services to gas and oil exploration and production companies in the United States and Colombia. The company has market cap of $462.89 million. The companyÂ’s Drilling Services segment offers contract land drilling services in Texas, North Dakota, Appalachia, and Colombia. It currently has negative earnings. As of December 31, 2016, this segment operated a fleet of 16 AC rigs in the United States and 8 SCR rigs in Colombia.

Pioneer Energy Services Corp. (NYSE:PES) Institutional Positions Chart

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