Morgan Stanley increased its holdings in Pioneer Energy Services Corp (NYSE:PES) by 175.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,544 shares of the oil and gas company’s stock after purchasing an additional 337,716 shares during the period. Morgan Stanley owned approximately 0.68% of Pioneer Energy Services worth $1,565,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Penn Capital Management Co. Inc. acquired a new stake in shares of Pioneer Energy Services during the third quarter worth approximately $100,000. MetLife Investment Advisors LLC grew its stake in shares of Pioneer Energy Services by 58.6% during the third quarter. MetLife Investment Advisors LLC now owns 61,901 shares of the oil and gas company’s stock valued at $183,000 after purchasing an additional 22,879 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Pioneer Energy Services by 42.0% during the third quarter. Thrivent Financial for Lutherans now owns 211,492 shares of the oil and gas company’s stock valued at $624,000 after purchasing an additional 62,554 shares during the last quarter. Ibex Investors LLC grew its stake in shares of Pioneer Energy Services by 19.6% during the third quarter. Ibex Investors LLC now owns 384,363 shares of the oil and gas company’s stock valued at $1,134,000 after purchasing an additional 62,913 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Pioneer Energy Services by 5.4% in the second quarter. Northern Trust Corp now owns 894,471 shares of the oil and gas company’s stock valued at $5,232,000 after acquiring an additional 45,513 shares during the last quarter. 73.72% of the stock is owned by hedge funds and other institutional investors.

PES stock opened at $2.00 on Friday. The company has a market cap of $156.91 million, a P/E ratio of -3.85 and a beta of 3.05. Pioneer Energy Services Corp has a 1 year low of $1.14 and a 1 year high of $6.35. The company has a quick ratio of 1.87, a current ratio of 2.05 and a debt-to-equity ratio of 2.81.

Pioneer Energy Services (NYSE:PES) last posted its earnings results on Tuesday, February 19th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.01. Pioneer Energy Services had a negative net margin of 8.31% and a negative return on equity of 22.61%. The firm had revenue of $141.51 million for the quarter, compared to analyst estimates of $141.88 million. As a group, research analysts expect that Pioneer Energy Services Corp will post -0.47 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on PES shares. B. Riley initiated coverage on shares of Pioneer Energy Services in a research note on Tuesday, November 20th. They issued a “neutral” rating and a $3.25 price objective on the stock. Wells Fargo & Co restated a “hold” rating on shares of Pioneer Energy Services in a report on Tuesday, December 11th. Simmons dropped their price objective on shares of Pioneer Energy Services to $2.25 and set an “overweight” rating on the stock in a report on Thursday, December 27th. Piper Jaffray Companies set a $2.00 price target on shares of Pioneer Energy Services and gave the company a “buy” rating in a research note on Thursday, December 27th. Finally, ValuEngine lowered shares of Pioneer Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Pioneer Energy Services currently has an average rating of “Hold” and a consensus target price of $3.61.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.watchlistnews.com/pioneer-energy-services-corp-pes-shares-bought-by-morgan-stanley/2896914.html.

About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies. It provides contract land drilling services in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, as well as in Colombia. The company operates 16 AC rigs in the United States and 8 SCR rigs in Colombia.

Featured Article: Channel Trading

Want to see what other hedge funds are holding PES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Energy Services Corp (NYSE:PES).

Institutional Ownership by Quarter for Pioneer Energy Services (NYSE:PES)

Receive News & Ratings for Pioneer Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.