Imperial Capital began coverage on shares of Pioneer Energy Services Corp. (NYSE:PES) in a report issued on Wednesday morning. The firm issued an in-line rating and a $3.00 price objective on the oil and gas company’s stock.

PES has been the topic of a number of other research reports. Seaport Global Securities downgraded shares of Pioneer Energy Services Corp. from a buy rating to a neutral rating and lowered their price objective for the company 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 objective 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. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $5.03.

Pioneer Energy Services Corp. (PES) traded down 1.96% during trading on Wednesday, reaching $2.50. The company’s stock had a trading volume of 464,189 shares. The firm’s market cap is $193.44 million. Pioneer Energy Services Corp. has a one year low of $1.60 and a one year high of $7.20. The company has a 50-day moving average of $2.09 and a 200 day moving average of $2.61.

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

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund raised its position in Pioneer Energy Services Corp. by 0.8% in the second quarter. Texas Permanent School Fund now owns 56,423 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 472 shares during the period. AXA bought a new position in Pioneer Energy Services Corp. in the first quarter worth approximately $118,000. Citigroup Inc. raised its position in Pioneer Energy Services Corp. by 230.7% in the second quarter. Citigroup Inc. now owns 63,848 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 44,541 shares during the period. SG Americas Securities LLC bought a new position in Pioneer Energy Services Corp. in the first quarter worth approximately $138,000. Finally, BlueCrest Capital Management Ltd raised its position in Pioneer Energy Services Corp. by 532.0% in the second quarter. BlueCrest Capital Management Ltd now owns 76,328 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 64,251 shares during the period. Institutional investors and hedge funds own 73.95% of the company’s stock.

About Pioneer Energy Services Corp.

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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