Zacks Investment Research downgraded shares of Pioneer Energy Services Corp. (NYSE:PES) from a buy rating to a hold rating in a research note released on Saturday.

According to Zacks, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas. “

Other analysts have also recently issued reports about the stock. Piper Jaffray Companies restated a buy rating and set a $2.75 price target on shares of Pioneer Energy Services Corp. in a report on Thursday, August 3rd. Imperial Capital started coverage on shares of Pioneer Energy Services Corp. in a report on Wednesday. They set an in-line rating and a $3.00 price target for the company. Seaport Global Securities restated a neutral rating on shares of Pioneer Energy Services Corp. in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of Pioneer Energy Services Corp. from a strong sell rating to a sell rating in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Pioneer Energy Services Corp. presently has an average rating of Hold and an average price target of $5.03.

Pioneer Energy Services Corp. (PES) traded down 4.00% during trading on Friday, reaching $2.40. 545,180 shares of the company’s stock were exchanged. The stock’s market capitalization is $185.70 million. Pioneer Energy Services Corp. has a 52 week low of $1.60 and a 52 week high of $7.20. The company’s 50 day moving average price is $2.13 and its 200-day moving average price is $2.59.

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

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A number of hedge funds and other institutional investors have recently bought and sold shares of PES. Wells Fargo & Company MN lifted its stake in Pioneer Energy Services Corp. by 15.5% in the first quarter. Wells Fargo & Company MN now owns 125,736 shares of the oil and gas company’s stock valued at $503,000 after acquiring an additional 16,865 shares during the last quarter. Comerica Bank lifted its stake in Pioneer Energy Services Corp. by 4.5% in the first quarter. Comerica Bank now owns 85,152 shares of the oil and gas company’s stock valued at $272,000 after acquiring an additional 3,682 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Pioneer Energy Services Corp. by 38.3% in the first quarter. Parametric Portfolio Associates LLC now owns 431,695 shares of the oil and gas company’s stock valued at $1,727,000 after acquiring an additional 119,542 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in Pioneer Energy Services Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 71,995 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 10,865 shares during the last quarter. Finally, KBC Group NV lifted its stake in Pioneer Energy Services Corp. by 59.5% in the first quarter. KBC Group NV now owns 248,741 shares of the oil and gas company’s stock valued at $995,000 after acquiring an additional 92,756 shares during the last quarter. Hedge funds and other institutional investors 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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