Pioneer Energy Services Corp (NYSE:PES) dropped 9.4% during trading on Tuesday . The company traded as low as $1.91 and last traded at $1.92. Approximately 582,046 shares changed hands during trading, an increase of 8% from the average daily volume of 539,773 shares. The stock had previously closed at $2.12.

Several equities research analysts have recently issued reports on the company. Simmons reduced their target price on Pioneer Energy Services to $2.25 and set an “overweight” rating on the stock in a report on Thursday, December 27th. Piper Jaffray Companies set a $2.00 target price on Pioneer Energy Services and gave the company a “buy” rating in a research report on Thursday, December 27th. ValuEngine lowered Pioneer Energy Services from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Imperial Capital restated an “in-line” rating and set a $3.00 target price on shares of Pioneer Energy Services in a research report on Thursday, January 10th. Finally, Capital One Financial lowered Pioneer Energy Services from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Pioneer Energy Services currently has a consensus rating of “Hold” and a consensus target price of $3.61.

The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.87 and a current ratio of 2.05. The firm has a market cap of $153.00 million, a P/E ratio of -3.75 and a beta of 3.04.

Pioneer Energy Services (NYSE:PES) last posted its earnings results on Tuesday, February 19th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $141.51 million for the quarter, compared to analyst estimates of $141.88 million. Pioneer Energy Services had a negative net margin of 8.31% and a negative return on equity of 22.61%. On average, analysts predict that Pioneer Energy Services Corp will post -0.47 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its position in Pioneer Energy Services by 26.4% in the 3rd quarter. Macquarie Group Ltd. now owns 5,779,510 shares of the oil and gas company’s stock valued at $17,050,000 after buying an additional 1,208,762 shares during the period. Morgan Stanley raised its stake in Pioneer Energy Services by 175.1% during the 3rd quarter. Morgan Stanley now owns 530,544 shares of the oil and gas company’s stock worth $1,565,000 after acquiring an additional 337,716 shares in the last quarter. Vanguard Group Inc raised its stake in Pioneer Energy Services by 6.3% during the 3rd quarter. Vanguard Group Inc now owns 4,539,648 shares of the oil and gas company’s stock worth $13,392,000 after acquiring an additional 269,201 shares in the last quarter. Vanguard Group Inc. increased its stake in Pioneer Energy Services by 6.3% in the third quarter. Vanguard Group Inc. now owns 4,539,648 shares of the oil and gas company’s stock valued at $13,392,000 after purchasing an additional 269,201 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Pioneer Energy Services in the fourth quarter valued at $308,000. Institutional investors own 73.52% of the company’s stock.

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Pioneer Energy Services Company Profile (NYSE:PES)

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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