Alliancebernstein L.P. decreased its position in Pioneer Energy Services Corp. (NYSE:PES) by 22.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,752 shares of the oil and gas company’s stock after selling 20,100 shares during the period. Alliancebernstein L.P.’s holdings in Pioneer Energy Services Corp. were worth $275,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Van Den Berg Management I Inc. raised its position in shares of Pioneer Energy Services Corp. by 104.1% in the first quarter. Van Den Berg Management I Inc. now owns 4,105,301 shares of the oil and gas company’s stock worth $16,421,000 after buying an additional 2,094,010 shares during the period. Teachers Advisors LLC raised its position in shares of Pioneer Energy Services Corp. by 873.9% in the fourth quarter. Teachers Advisors LLC now owns 1,083,044 shares of the oil and gas company’s stock worth $7,419,000 after buying an additional 971,836 shares during the period. Macquarie Group Ltd. bought a new position in shares of Pioneer Energy Services Corp. during the fourth quarter worth approximately $5,397,000. Phoenix Investment Adviser LLC raised its position in shares of Pioneer Energy Services Corp. by 137.6% in the first quarter. Phoenix Investment Adviser LLC now owns 318,902 shares of the oil and gas company’s stock worth $1,276,000 after buying an additional 184,703 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Pioneer Energy Services Corp. by 38.3% in the first quarter. Parametric Portfolio Associates LLC now owns 431,695 shares of the oil and gas company’s stock worth $1,727,000 after buying an additional 119,542 shares during the period. 79.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pioneer Energy Services Corp. (PES) traded down 2.63% during midday trading on Tuesday, reaching $1.85. 176,666 shares of the company’s stock traded hands. Pioneer Energy Services Corp. has a 1-year low of $1.70 and a 1-year high of $7.20. The stock’s market capitalization is $143.15 million. The firm’s 50-day moving average price is $2.17 and its 200 day moving average price is $3.50.

Pioneer Energy Services Corp. (NYSE:PES) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.03. Pioneer Energy Services Corp. had a negative net margin of 33.86% and a negative return on equity of 28.63%. The firm had revenue of $107.13 million during the quarter, compared to analysts’ expectations of $105.23 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 72.0% on a year-over-year basis. On average, equities analysts predict that Pioneer Energy Services Corp. will post ($0.66) earnings per share for the current fiscal year.

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PES has been the topic of a number of research reports. Zacks Investment Research lowered shares of Pioneer Energy Services Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Seaport Global Securities lowered shares of Pioneer Energy Services Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.50 to $2.00 in a report on Wednesday, June 21st. ValuEngine lowered shares of Pioneer Energy Services Corp. from a “sell” rating to a “strong sell” rating in a report on Thursday, June 8th. Deutsche Bank AG reissued a “hold” rating and set a $6.00 price objective (down from $7.00) on shares of Pioneer Energy Services Corp. in a report on Tuesday, May 30th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $2.75 price objective on shares of Pioneer Energy Services Corp. in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Pioneer Energy Services Corp. currently has a consensus rating of “Hold” and a consensus price target of $5.19.

In other news, CEO Stacy Locke acquired 25,000 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were bought at an average cost of $2.74 per share, with a total value of $68,500.00. Following the transaction, the chief executive officer now owns 961,267 shares in the company, valued at approximately $2,633,871.58. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.05% of the company’s stock.

Pioneer Energy Services Corp. Company Profile

Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent 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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Institutional Ownership by Quarter for Pioneer Energy Services Corp. (NYSE:PES)

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