Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. (NYSE:PES) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $5.00 target price on the stock.

According to Zacks, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas. “

A number of other brokerages have also issued reports on PES. Jefferies Group upgraded shares of Pioneer Energy Services Corp. from a hold rating to a buy rating and raised their price objective for the company from $5.00 to $6.00 in a report on Friday, September 2nd. Seaport Global Securities upgraded 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 report on Friday, September 30th. Wells Fargo & Co. upgraded shares of Pioneer Energy Services Corp. from a market perform rating to an outperform rating in a report on Monday, July 18th. Piper Jaffray Cos. upgraded shares of Pioneer Energy Services Corp. from an underweight rating to a neutral rating in a report on Wednesday, June 29th. Finally, DA Davidson started coverage on shares of Pioneer Energy Services Corp. in a research report on Thursday, September 15th. They set a buy rating and a $5.00 target price for the company. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $3.83.

Analyst Recommendations for Pioneer Energy Services Corp. (NYSE:PES)

Shares of Pioneer Energy Services Corp. (NYSE:PES) traded up 1.9287% on Thursday, reaching $4.4339. 61,953 shares of the company were exchanged. The company’s market cap is $287.23 million. The company’s 50-day moving average price is $3.74 and its 200 day moving average price is $3.51. Pioneer Energy Services Corp. has a 12 month low of $0.95 and a 12 month high of $5.05.

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

Several large investors have recently added to or reduced their stakes in PES. Public Employees Retirement System of Ohio boosted its stake in Pioneer Energy Services Corp. by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 77,546 shares of the company’s stock worth $357,000 after buying an additional 4,859 shares during the last quarter. GLG Partners LP acquired a new stake in Pioneer Energy Services Corp. during the second quarter worth approximately $166,000. Metropolitan Life Insurance Co. NY acquired a new stake in Pioneer Energy Services Corp. during the second quarter worth approximately $287,000. Arizona State Retirement System boosted 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 worth $155,000 after buying an additional 600 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Pioneer Energy Services Corp. during the second quarter worth approximately $250,000. Institutional investors own 73.84% of the company’s stock.

Pioneer Energy Services Corp. Company Profile

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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