Could Pioneer Energy Services Corp (PES) Gain Strenght After Forming Double Bottom Pattern?

September 17, 2017 - By Marguerite Chambers

The chart of Pioneer Energy Services Corp (PES) shows a double bottom with $2.05 target or 7.00 % below today’s $2.20 share price. The 7 months chart pattern indicates high risk for the $170.98M company. It was reported on Sep, 17 by Finviz.com. If the $2.05 price target is reached, the company will be worth $11.97 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.33% or $0.05 on September 15, reaching $2.2. About 1.50 million shares traded or 148.95% up from the average. Pioneer Energy Services Corp (NYSE:PES) has risen 5.07% since September 17, 2016 and is uptrending. It has underperformed by 11.63% the S&P500.

Wall Street await Pioneer Energy Services Corp (NYSE:PES) to release earnings on November, 7. Analysts forecast EPS of $-0.13, up exactly $0.16 or 55.17 % from 2014’s $-0.29 EPS. After posting $-0.21 EPS for the previous quarter, Pioneer Energy Services Corp’s analysts now forecast -38.10 % EPS growth.

Pioneer Energy Services Corp (NYSE:PES) Ratings Coverage

Among 13 analysts covering Pioneer Energy (NYSE:PES), 9 have Buy rating, 0 Sell and 4 Hold. Therefore 69% are positive. Pioneer Energy had 26 analyst reports since July 31, 2015 according to SRatingsIntel. The stock has “Overweight” rating by Piper Jaffray on Wednesday, June 29. The stock of Pioneer Energy Services Corp (NYSE:PES) has “Buy” rating given on Thursday, September 15 by DA Davidson. The firm earned “Neutral” rating on Wednesday, June 21 by Seaport Global. The firm has “Hold” rating given on Monday, July 11 by Jefferies. The stock has “Overweight” rating by Simmons & Co on Wednesday, June 29. Goldman Sachs upgraded Pioneer Energy Services Corp (NYSE:PES) on Friday, December 16 to “Buy” rating. The firm earned “Buy” rating on Friday, September 2 by Jefferies. On Monday, February 6 the stock rating was initiated by CapitalOne with “Overweight”. The stock of Pioneer Energy Services Corp (NYSE:PES) earned “Hold” rating by Scotia Capital on Thursday, March 23. The firm has “Sector Perform” rating by Howard Weil given on Friday, July 31.

More important recent Pioneer Energy Services Corp (NYSE:PES) news were published by: Bizjournals.com which released: “Pioneer Energy Services approaching three years of losses” on August 01, 2017, also Bizjournals.com published article titled: “Pioneer Energy Services beats expectations on revenue despite nine quarters of …”, Seekingalpha.com published: “Pioneer Energy Services’ (PES) CEO Stacy Locke on Q1 2017 Results – Earnings …” on May 02, 2017. More interesting news about Pioneer Energy Services Corp (NYSE:PES) was released by: Fool.com and their article: “Why Pioneer Energy Services Corp.’s Stock Is Sinking Today” with publication date: December 07, 2016.

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