It is trading at $2.25 significantly higher than the 50 day moving average which is $1.96 and well below the 200 day moving average of $2.76. The 50 day moving average went up $0.29 or +14.55% and the 200 day average moved down $-0.51. (NYSE:PES) shares saw light trading volume with 554K shares changing hands by the end of trading on Wednesday. Shares saw a steep decrease in trading volume of 18.21% under the normal average daily volume.
Traders are more bearish on shares of Pioneer Energy Services Corp. C recently as shown by the uptick in short interest. The stock saw a rise in short interest between August 15, 2017 and August 31, 2017 of 11.25%. Short interest grew from 4,084,675 to 4,544,130 over that period. Days to cover increased from 7.0 to 8.0 and the percentage of shorted shares is 0.06% as of August 31.
These funds have shifted positions in (PES). As of the end of the quarter Point72 Asset Management, L.p. had disposed of a total of 1,642,857 shares trimming its stake by 86.8%. The value of the investment in (PES) went from $7,571,000 to $513,000 a change of 93.2% quarter to quarter. As of quarter end Bluecrest Capital Management Ltd had bought 64,251 shares growing its holdings by 532.0%. The value of the total investment in Pioneer Energy Services Corp. C increased from $48,000 to $156,000 increasing 225.0% quarter over quarter.
Jane Street Group, LLC cut its ownership by selling 5,662 shares a decrease of 30.1%. Jane Street Group, LLC claims 13,152 shares with a value of $27,000. The value of the position overall is down by 64.0%. Point72 Asia (hong Kong) Ltd expanded its holdings by buying 2,497 shares an increase of 70.6% from 03/31/2017 to 06/30/2017. Point72 Asia (hong Kong) Ltd owns 6,033 shares valued at $12,000. The total value of its holdings decreased 14.3%.
On June 21 the stock rating was downgraded from “Buy” to “Neutral” in a report issued by Seaport Global.
In the last earnings report the EPS was $-1.62 and is expected to be $-0.66 for the current year with 77,376,000 shares now outstanding. Next quarter’s EPS is forecasted at $-0.11 with next year’s EPS anticipated to be $-0.31.
Pioneer Energy Services Corp., launched on November 14, 1979, 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. The Company also provides two of its services (coiled tubing and wireline services) offshore in the Gulf of Mexico..