Shares of Pioneer Energy Services Corp. (NYSE:PES) have earned a consensus rating of “Buy” from the twelve research firms that are presently covering the firm. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.69.

PES has been the subject of a number of recent research reports. Jefferies Group raised shares of Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $5.00 to $6.00 in a research report on Friday, September 2nd. Zacks Investment Research raised shares of Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Wednesday, July 6th. Seaport Global Securities raised shares of Pioneer Energy Services Corp. from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Friday, September 30th. DA Davidson started coverage on shares of Pioneer Energy Services Corp. in a research note on Thursday, September 15th. They set a “buy” rating and a $5.00 target price for the company. Finally, Piper Jaffray Cos. raised shares of Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th.

Hedge funds have recently added to or reduced their stakes in the stock. Profund Advisors LLC raised its stake in Pioneer Energy Services Corp. by 6.6% in the second quarter. Profund Advisors LLC now owns 21,932 shares of the company’s stock valued at $101,000 after buying an additional 1,350 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Pioneer Energy Services Corp. by 1,226.8% in the second quarter. Tower Research Capital LLC TRC now owns 23,882 shares of the company’s stock valued at $110,000 after buying an additional 22,082 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in Pioneer Energy Services Corp. during the second quarter valued at approximately $111,000. ClariVest Asset Management LLC acquired a new stake in Pioneer Energy Services Corp. during the second quarter valued at approximately $124,000. Finally, Arizona State Retirement System raised its stake in Pioneer Energy Services Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 33,623 shares of the company’s stock valued at $155,000 after buying an additional 600 shares in the last quarter. 73.84% of the stock is owned by institutional investors and hedge funds.

Shares of Pioneer Energy Services Corp. (NYSE:PES) traded up 6.83% on Wednesday, hitting $4.38. 845,279 shares of the stock were exchanged. The firm’s 50-day moving average is $3.56 and its 200-day moving average is $3.42. Pioneer Energy Services Corp. has a one year low of $0.95 and a one year high of $5.05. The company’s market cap is $283.74 million.

Pioneer Energy Services Corp. (NYSE:PES) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Pioneer Energy Services Corp. had a negative net margin of 35.38% and a negative return on equity of 21.42%. The business earned $62.30 million during the quarter, compared to the consensus estimate of $65.75 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was down 53.9% compared to the same quarter last year. On average, equities analysts forecast that Pioneer Energy Services Corp. will post ($1.24) EPS for the current fiscal year.

About Pioneer Energy Services Corp.

Pioneer Energy Services Corp. provides land-based drilling services and production services to oil and gas exploration, and production companies in the United States and internationally in Colombia. The Company operates through two segments: Drilling Services and Production Services. The Drilling Services Segment provides contract land drilling services to a group of exploration and production companies through its four drilling divisions in the United States, and internationally in Colombia.

5 Day Chart for NYSE:PES

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