Shares of Pioneer Energy Services Corp (NYSE:PES) traded up 6.7% during trading on Monday . The stock traded as high as $2.45 and last traded at $2.40. 1,190,556 shares were traded during mid-day trading, an increase of 25% from the average session volume of 952,229 shares. The stock had previously closed at $2.25.

Several analysts have commented on the stock. Jefferies Group reiterated a “buy” rating and issued a $3.00 price target on shares of Pioneer Energy Services in a research note on Friday, November 10th. ValuEngine cut shares of Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Wells Fargo & Company cut shares of Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Goldman Sachs Group cut shares of Pioneer Energy Services from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.41.

The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77.

Pioneer Energy Services (NYSE:PES) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $117.28 million during the quarter, compared to analysts’ expectations of $114.82 million. Pioneer Energy Services had a negative return on equity of 26.46% and a negative net margin of 25.19%. The firm’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) EPS. equities analysts forecast that Pioneer Energy Services Corp will post -0.68 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund raised its position in shares of Pioneer Energy Services by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 56,423 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 472 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Pioneer Energy Services by 9.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 59,160 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 5,206 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Pioneer Energy Services by 6.5% during the 2nd quarter. Wells Fargo & Company MN now owns 133,963 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 8,227 shares in the last quarter. Legal & General Group Plc raised its position in shares of Pioneer Energy Services by 9.2% during the 2nd quarter. Legal & General Group Plc now owns 137,528 shares of the oil and gas company’s stock valued at $282,000 after buying an additional 11,562 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Pioneer Energy Services by 1.5% during the 2nd quarter. Teachers Advisors LLC now owns 1,242,585 shares of the oil and gas company’s stock valued at $2,547,000 after buying an additional 17,760 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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About Pioneer Energy Services

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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