Pioneer Energy Services (NYSE:PES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $4.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.11% from the stock’s current price.

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. Imperial Capital initiated coverage on shares of Pioneer Energy Services in a report on Wednesday, October 4th. They issued an “in-line” rating and a $3.00 price objective on the stock. Wells Fargo & Co lowered shares of Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Goldman Sachs Group lowered shares of Pioneer Energy Services from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. ValuEngine upgraded shares of Pioneer Energy Services from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Seaport Global Securities upgraded shares of Pioneer Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.53.

Pioneer Energy Services (PES) remained flat at $$3.70 during trading hours on Thursday. 785,586 shares of the stock were exchanged, compared to its average volume of 1,072,802. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $287.56, a price-to-earnings ratio of -2.76 and a beta of 2.92. Pioneer Energy Services has a 1 year low of $1.60 and a 1 year high of $6.65.

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

A number of institutional investors have recently added to or reduced their stakes in PES. Balyasny Asset Management LLC lifted its holdings in Pioneer Energy Services by 390.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,088,468 shares of the oil and gas company’s stock worth $4,281,000 after buying an additional 1,662,241 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Pioneer Energy Services by 93.8% during the 2nd quarter. Franklin Resources Inc. now owns 2,912,950 shares of the oil and gas company’s stock worth $5,972,000 after buying an additional 1,410,000 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Pioneer Energy Services by 67.1% during the 3rd quarter. Macquarie Group Ltd. now owns 3,440,687 shares of the oil and gas company’s stock worth $8,774,000 after buying an additional 1,382,209 shares in the last quarter. FMR LLC acquired a new stake in Pioneer Energy Services during the 2nd quarter worth approximately $1,584,000. Finally, Thrivent Financial For Lutherans lifted its holdings in Pioneer Energy Services by 66.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 856,377 shares of the oil and gas company’s stock worth $1,756,000 after buying an additional 340,441 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

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Pioneer Energy Services 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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