Pioneer Energy Services Corp. (NYSE:PES) rose 7.3% during trading on Monday . The company traded as high as $2.25 and last traded at $2.20. Approximately 667,589 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 949,603 shares. The stock had previously closed at $2.05.

PES has been the subject of a number of research analyst reports. ValuEngine cut Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Imperial Capital initiated coverage on Pioneer Energy Services in a research note on Wednesday, October 4th. They issued an “in-line” rating and a $3.00 price target for the company. Zacks Investment Research upgraded Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Wednesday, October 4th. Goldman Sachs Group cut Pioneer Energy Services from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Finally, Wells Fargo & Company cut Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Pioneer Energy Services presently has a consensus rating of “Hold” and an average price target of $4.69.

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

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

Several large investors have recently made changes to their positions in PES. Balyasny Asset Management LLC raised its stake in shares of Pioneer Energy Services by 390.0% in the second quarter. Balyasny Asset Management LLC now owns 2,088,468 shares of the oil and gas company’s stock worth $4,281,000 after purchasing an additional 1,662,241 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Pioneer Energy Services by 93.8% in the second quarter. Franklin Resources Inc. now owns 2,912,950 shares of the oil and gas company’s stock worth $5,972,000 after purchasing an additional 1,410,000 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Pioneer Energy Services by 67.1% in the third quarter. Macquarie Group Ltd. now owns 3,440,687 shares of the oil and gas company’s stock worth $8,774,000 after purchasing an additional 1,382,209 shares during the last quarter. FMR LLC purchased a new position in shares of Pioneer Energy Services in the second quarter worth about $1,584,000. Finally, Thrivent Financial For Lutherans raised its stake in shares of Pioneer Energy Services by 66.0% in the second quarter. Thrivent Financial For Lutherans now owns 856,377 shares of the oil and gas company’s stock worth $1,756,000 after purchasing an additional 340,441 shares during 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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