Zacks Investment Research upgraded shares of Pioneer Energy Services (NYSE:PES) from a sell rating to a hold rating in a report published on Friday, Zacks.com reports.

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. “

PES has been the topic of several other reports. Johnson Rice downgraded Pioneer Energy Services from an accumulate rating to a hold rating in a research report on Thursday, August 15th. Piper Jaffray Companies downgraded Pioneer Energy Services from an overweight rating to a neutral rating in a research report on Thursday, June 27th. Imperial Capital lowered their price target on Pioneer Energy Services from $2.00 to $1.00 and set an in-line rating on the stock in a research report on Thursday, May 30th. Finally, ValuEngine raised Pioneer Energy Services from a sell rating to a hold rating in a research report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $2.42.

Shares of NYSE:PES opened at $0.16 on Friday. The company has a market cap of $8.32 million, a P/E ratio of -0.31 and a beta of 3.23. The stock’s 50-day moving average is $0.21 and its 200-day moving average is $1.07. Pioneer Energy Services has a 52-week low of $0.16 and a 52-week high of $3.65. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.79 and a current ratio of 2.01.

Pioneer Energy Services (NYSE:PES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). The company had revenue of $152.84 million for the quarter, compared to the consensus estimate of $151.43 million. Pioneer Energy Services had a negative return on equity of 26.26% and a negative net margin of 8.09%. As a group, equities analysts predict that Pioneer Energy Services will post -0.59 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in Pioneer Energy Services during the 2nd quarter valued at about $123,000. Paloma Partners Management Co purchased a new stake in Pioneer Energy Services during the 2nd quarter valued at about $86,000. OMERS ADMINISTRATION Corp purchased a new stake in Pioneer Energy Services during the 2nd quarter valued at about $60,000. WealthTrust Axiom LLC grew its position in Pioneer Energy Services by 104.7% during the 2nd quarter. WealthTrust Axiom LLC now owns 320,525 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 163,950 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Pioneer Energy Services by 287.2% during the 2nd quarter. SG Americas Securities LLC now owns 127,468 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 94,545 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Pioneer Energy Services Company Profile

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies. It provides contract land drilling services in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, as well as in Colombia. The company operates 16 AC rigs in the United States and 8 SCR rigs in Colombia.

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Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

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