DA Davidson assumed coverage on shares of Pioneer Energy Services Corp. (NYSE:PES) in a report released on Thursday morning. The brokerage issued a buy rating and a $5.00 target price on the stock.

A number of other equities research analysts also recently weighed in on PES. Piper Jaffray Cos. upgraded shares of Pioneer Energy Services Corp. from an underweight rating to a neutral rating in a research report on Wednesday, June 29th. Simmons upgraded shares of Pioneer Energy Services Corp. from a neutral rating to an overweight rating and lifted their price target for the company from $3.00 to $5.25 in a research report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. from a hold rating to a buy rating and set a $5.25 price target for the company in a research report on Wednesday, July 6th. Jefferies Group lifted their price target on shares of Pioneer Energy Services Corp. from $3.50 to $5.00 and gave the company a hold rating in a research report on Monday, July 11th. Finally, Wells Fargo & Co. upgraded shares of Pioneer Energy Services Corp. from a market perform rating to an outperform rating in a research report on Monday, July 18th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Pioneer Energy Services Corp. has an average rating of Hold and an average price target of $3.72.

Pioneer Energy Services Corp. (NYSE:PES) opened at 3.20 on Thursday. The firm’s 50-day moving average price is $3.44 and its 200 day moving average price is $3.31. Pioneer Energy Services Corp. has a 12-month low of $0.95 and a 12-month high of $5.05. The firm’s market cap is $207.30 million.

Pioneer Energy Services Corp. (NYSE:PES) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. The firm earned $62.30 million during the quarter, compared to the consensus estimate of $65.75 million. Pioneer Energy Services Corp. had a negative net margin of 35.38% and a negative return on equity of 21.42%. The business’s revenue for the quarter was down 53.9% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. Analysts forecast that Pioneer Energy Services Corp. will post ($1.24) earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new position in Pioneer Energy Services Corp. during the second quarter valued at about $926,000. Bank of New York Mellon Corp raised its position in Pioneer Energy Services Corp. by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 2,838,230 shares of the company’s stock valued at $13,055,000 after buying an additional 352,913 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in Pioneer Energy Services Corp. during the second quarter valued at about $124,000. WealthTrust Axiom LLC raised its position in Pioneer Energy Services Corp. by 1.8% in the second quarter. WealthTrust Axiom LLC now owns 98,612 shares of the company’s stock valued at $453,000 after buying an additional 1,750 shares during the last quarter. Finally, Strs Ohio raised its position in Pioneer Energy Services Corp. by 8.4% in the second quarter. Strs Ohio now owns 129,400 shares of the company’s stock valued at $595,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

Pioneer Energy Services Corp. Company Profile

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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