Shares of Pioneer Energy Services Corp. (NYSE:PES) traded down 2.3% during trading on Wednesday . The stock traded as low as $2.00 and last traded at $2.15. 463,900 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 988,685 shares. The stock had previously closed at $2.20.

Several analysts have recently commented on the stock. Seaport Global Securities reiterated a “neutral” rating on shares of Pioneer Energy Services Corp. in a research report on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $2.75 price target on shares of Pioneer Energy Services Corp. in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $3.00 price objective on shares of Pioneer Energy Services Corp. in a research note on Friday, November 10th. ValuEngine downgraded shares of Pioneer Energy Services Corp. from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Wells Fargo & Company downgraded shares of Pioneer Energy Services Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.69.

The company has a quick ratio of 1.61, a current ratio of 1.75 and a debt-to-equity ratio of 1.77.

Pioneer Energy Services Corp. (NYSE:PES) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $117.28 million for the quarter, compared to analysts’ expectations of $114.82 million. Pioneer Energy Services Corp. had a negative return on equity of 26.46% and a negative net margin of 25.19%. The business’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) EPS. analysts predict that Pioneer Energy Services Corp. will post -0.68 EPS for the current year.

Large investors have recently bought and sold shares of the business. Texas Permanent School Fund raised its stake in Pioneer Energy Services Corp. by 0.8% during the second quarter. Texas Permanent School Fund now owns 56,423 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 472 shares during the period. Citigroup Inc. raised its stake in Pioneer Energy Services Corp. by 230.7% during the second quarter. Citigroup Inc. now owns 63,848 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 44,541 shares during the period. BlueCrest Capital Management Ltd raised its stake in Pioneer Energy Services Corp. by 532.0% during the second quarter. BlueCrest Capital Management Ltd now owns 76,328 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 64,251 shares during the period. Citadel Advisors LLC purchased a new position in Pioneer Energy Services Corp. during the third quarter worth approximately $188,000. Finally, OppenheimerFunds Inc. raised its stake in Pioneer Energy Services Corp. by 45.5% during the first quarter. OppenheimerFunds Inc. now owns 47,432 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 14,822 shares during the period. 73.85% of the stock is currently owned by institutional investors.

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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.

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