DA Davidson started coverage on shares of Pioneer Energy Services Corp. (NYSE:PES) in a research report report published on Thursday. The firm issued a buy rating and a $5.00 price objective on the stock.

Several other analysts have also recently weighed in on the stock. 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 raised their price objective for the company from $3.00 to $5.25 in a research report on Wednesday, June 29th. Jefferies Group raised shares of Pioneer Energy Services Corp. from a hold rating to a buy rating and increased their target price for the company from $5.00 to $6.00 in a report on Friday, September 2nd. Zacks Investment Research raised shares of Pioneer Energy Services Corp. from a hold rating to a buy rating and set a $5.25 target price on the stock in a report on Wednesday, July 6th. Finally, Wells Fargo & Co. raised shares of Pioneer Energy Services Corp. from a market perform rating to an outperform rating in a report on Monday, July 18th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3.72.

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

Pioneer Energy Services Corp. (NYSE:PES) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 53.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. Equities analysts expect that Pioneer Energy Services Corp. will post ($1.24) EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new stake in shares of Pioneer Energy Services Corp. during the second quarter worth about $926,000. Bank of New York Mellon Corp raised its stake in shares of 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 worth $13,055,000 after buying an additional 352,913 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of Pioneer Energy Services Corp. during the second quarter worth about $124,000. WealthTrust Axiom LLC raised its stake in shares of Pioneer Energy Services Corp. by 1.8% in the second quarter. WealthTrust Axiom LLC now owns 98,612 shares of the company’s stock worth $453,000 after buying an additional 1,750 shares during the period. Finally, Strs Ohio raised its stake in shares of Pioneer Energy Services Corp. by 8.4% in the second quarter. Strs Ohio now owns 129,400 shares of the company’s stock worth $595,000 after buying an additional 10,000 shares during the period. 73.84% of the stock is currently owned by institutional investors and hedge funds.

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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