Pioneer Energy Services Corp. (NYSE:PES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $4.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 1.27% from the stock’s previous close.

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. “

Other analysts have also issued research reports about the company. Seaport Global Securities raised 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 note on Friday, September 30th. DA Davidson initiated coverage on Pioneer Energy Services Corp. in a research note on Thursday, September 15th. They set a “buy” rating and a $5.00 price objective for the company. Jefferies Group raised Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $5.00 to $6.00 in a research note on Friday, September 2nd. Raymond James Financial Inc. upgraded Pioneer Energy Services Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, November 2nd. Finally, Wells Fargo & Co. upgraded Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 18th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.73.

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

Shares of Pioneer Energy Services Corp. (NYSE:PES) opened at 3.95 on Tuesday. Pioneer Energy Services Corp. has a 52-week low of $0.95 and a 52-week high of $5.05. The company has a 50-day moving average of $3.97 and a 200 day moving average of $3.72. The firm’s market cap is $256.37 million.

Pioneer Energy Services Corp. (NYSE:PES) last released its quarterly earnings data on Tuesday, November 1st. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The firm earned $68.40 million during the quarter, compared to analyst estimates of $63.11 million. Pioneer Energy Services Corp. had a negative return on equity of 24.83% and a negative net margin of 45.35%. The business’s quarterly revenue was down 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. On average, equities analysts expect that Pioneer Energy Services Corp. will post ($1.22) earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the company. Profund Advisors LLC increased its position 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 worth $101,000 after buying an additional 1,350 shares during the period. Tower Research Capital LLC TRC increased its position in shares of 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 during the last quarter. Penn Capital Management Co. Inc. bought a new position in shares of Pioneer Energy Services Corp. during the second quarter valued at $111,000. ClariVest Asset Management LLC bought a new position in shares of Pioneer Energy Services Corp. during the second quarter valued at $124,000. Finally, BlackRock Inc. increased its position in shares of Pioneer Energy Services Corp. by 53.5% in the third quarter. BlackRock Inc. now owns 30,795 shares of the company’s stock valued at $125,000 after buying an additional 10,733 shares during the last quarter. Institutional investors and hedge funds own 72.78% of the company’s stock.

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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