Shares of Pioneer Energy Services Corp. (NYSE:PES) have been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.04.

A number of analysts have commented on the stock. Seaport Global Securities downgraded shares of Pioneer Energy Services Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.50 to $2.00 in a research report on Wednesday, June 21st. Piper Jaffray Companies restated a “buy” rating and set a $2.75 price target on shares of Pioneer Energy Services Corp. in a research report on Thursday, August 3rd. ValuEngine upgraded shares of Pioneer Energy Services Corp. from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG restated a “hold” rating and set a $6.00 price target (down from $7.00) on shares of Pioneer Energy Services Corp. in a research report on Tuesday, May 30th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PES. Louisiana State Employees Retirement System raised its holdings in shares of Pioneer Energy Services Corp. by 21.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 31,500 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 5,500 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Pioneer Energy Services Corp. by 15.5% in the 1st quarter. Wells Fargo & Company MN now owns 125,736 shares of the oil and gas company’s stock worth $503,000 after purchasing an additional 16,865 shares in the last quarter. Comerica Bank raised its holdings in shares of Pioneer Energy Services Corp. by 4.5% in the 1st quarter. Comerica Bank now owns 85,152 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 3,682 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Pioneer Energy Services Corp. by 38.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 431,695 shares of the oil and gas company’s stock worth $1,727,000 after purchasing an additional 119,542 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its holdings in shares of Pioneer Energy Services Corp. by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 71,995 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 10,865 shares in the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

Shares of Pioneer Energy Services Corp. (NYSE PES) traded up 3.659% on Wednesday, reaching $2.125. 99,038 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $1.98 and its 200-day moving average price is $2.90. The company’s market capitalization is $164.42 million. Pioneer Energy Services Corp. has a 1-year low of $1.60 and a 1-year high of $7.20.

Pioneer Energy Services Corp. (NYSE:PES) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). Pioneer Energy Services Corp. had a negative return on equity of 28.63% and a negative net margin of 33.86%. The company had revenue of $107.13 million for the quarter, compared to the consensus estimate of $105.23 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The firm’s quarterly revenue was up 72.0% compared to the same quarter last year. Analysts anticipate that Pioneer Energy Services Corp. will post ($0.66) EPS for the current fiscal year.

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Pioneer Energy Services Corp. Company Profile

Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.

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

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