Pioneer Energy Services Corp (PES) Shares Bought by Morgan Stanley
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.
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.
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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.
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