Shares of Pioneer Energy Services Corp. (NYSE:PES) dropped 3.9% during mid-day trading on Monday . The stock traded as low as $3.86 and last traded at $3.92, with a volume of 498,360 shares changing hands. The stock had previously closed at $4.08.

PES has been the subject of several recent research reports. Simmons raised shares of Pioneer Energy Services Corp. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.00 to $5.25 in a research report on Wednesday, June 29th. Piper Jaffray Cos. upgraded Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Wednesday, July 6th. Wunderlich increased their target price on Pioneer Energy Services Corp. from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, May 2nd. Finally, Wells Fargo & Co. upgraded Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.56.

The stock’s 50 day moving average price is $4.34 and its 200-day moving average price is $2.72. The company’s market cap is $251.84 million.

Pioneer Energy Services Corp. (NYSE:PES) last issued its quarterly earnings data on Friday, April 29th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. During the same period in the prior year, the firm posted ($0.13) earnings per share. The company had revenue of $75 million for the quarter, compared to the consensus estimate of $80.57 million. The business’s revenue for the quarter was down 61.3% on a year-over-year basis. On average, equities analysts anticipate that Pioneer Energy Services Corp. will post ($1.21) EPS for the current fiscal year.

In other Pioneer Energy Services Corp. news, Director C John Thompson sold 8,995 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $4.10, for a total transaction of $36,879.50. Following the completion of the sale, the director now directly owns 47,661 shares of the company’s stock, valued at approximately $195,410.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A hedge fund recently bought a new stake in Pioneer Energy Services Corp. stock. Matarin Capital Management LLC acquired a new position in Pioneer Energy Services Corp. (NYSE:PES) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 612,903 shares of the company’s stock, valued at approximately $1,330,000. Matarin Capital Management LLC owned approximately 0.95% of Pioneer Energy Services Corp. at the end of the most recent reporting period.

Pioneer Energy Services Corp. provides land-based drilling services and production services to oil and gas exploration, and production companies in the United States and internationally in Colombia. The Company operates through two segments: Drilling Services and Production Services. The Drilling Services Segment provides contract land drilling services to a group of exploration and production companies through its four drilling divisions in the United States, and internationally in Colombia.

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