Is Buying 52-Week Stock Like Pioneer Energy Services Corp. (PES) a Winning Strategy?

May 20, 2018 - By Louis Casey

The stock of Pioneer Energy Services Corp. (NYSE:PES) hit a new 52-week high and has $6.20 target or 6.00 % above today’s $5.85 share price. The 6 months bullish chart indicates low risk for the $455.11M company. The 1-year high was reported on May, 20 by Barchart.com. If the $6.20 price target is reached, the company will be worth $27.31 million 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 decreased 1.68% or $0.1 during the last trading session, reaching $5.85. About 1.11M shares traded or 89.37% up from the average. Pioneer Energy Services Corp. (NYSE:PES) has declined 28.95% since May 20, 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 EPS, up 66.67 % or $0.14 from last year’s $-0.21 per share. After $-0.09 actual EPS 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. Piper Jaffray maintained Pioneer Energy Services Corp. (NYSE:PES) on Monday, March 5 with “Buy” rating. As per Wednesday, January 17, the company rating was maintained by Seaport Global. Seaport Global upgraded the stock to “Buy” rating in Wednesday, December 20 report. Jefferies maintained the shares of PES in report on Monday, February 26 with “Buy” rating.

More news for Pioneer Energy Services Corp. (NYSE:PES) were recently published by: Seekingalpha.com, which released: “Pioneer Energy Services’ (PES) CEO Stacy Locke on Q1 2018 Results – Earnings Call Transcript” on May 02, 2018. Seekingalpha.com‘s article titled: “Top Performing Energy Sector Stocks Since March Low” and published on May 18, 2018 is yet another important article.

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 $455.11 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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