Pioneer Energy Services Corp. (NYSE:PES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

Several other brokerages have also weighed in on PES. Wells Fargo & Co. raised Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 18th. Seaport Global Securities raised Pioneer Energy Services Corp. from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Friday, September 30th. DA Davidson reissued a “buy” rating and set a $5.00 target price on shares of Pioneer Energy Services Corp. in a research report on Wednesday, November 9th. Raymond James Financial Inc. raised Pioneer Energy Services Corp. from an “underperform” rating to a “market perform” rating in a research report on Wednesday, November 2nd. Finally, Jefferies Group raised Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $5.00 to $6.00 in a research report on Friday, September 2nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.73.

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

Pioneer Energy Services Corp. (NYSE:PES) opened at 3.95 on Thursday. Pioneer Energy Services Corp. has a one year low of $0.95 and a one year high of $5.05. The firm has a 50-day moving average price of $4.00 and a 200-day moving average price of $3.73. The firm’s market capitalization is $256.37 million.

Pioneer Energy Services Corp. (NYSE:PES) last issued its earnings results on Tuesday, November 1st. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.04. Pioneer Energy Services Corp. had a negative return on equity of 24.83% and a negative net margin of 45.35%. The business had revenue of $68.40 million for the quarter, compared to analyst estimates of $63.11 million. During the same quarter last year, the company earned ($0.25) EPS. The business’s quarterly revenue was down 36.4% on a year-over-year basis. Equities analysts anticipate that Pioneer Energy Services Corp. will post ($1.22) earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC increased its position in shares of 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 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 period. 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 period. Institutional investors own 74.96% 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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