Shares of Pioneer Energy Services Corp. (NYSE:PES) fell 7.9% on Monday . The stock traded as low as $2.81 and last traded at $2.90, with a volume of 930,770 shares trading hands. The stock had previously closed at $3.15.

Several research firms have weighed in on PES. Simmons upgraded Pioneer Energy Services Corp. from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.00 to $5.25 in a research note on Wednesday, June 29th. Piper Jaffray Cos. raised Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a report on Wednesday, June 29th. Zacks Investment Research raised Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a report on Wednesday, July 6th. Wells Fargo & Co. raised Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 18th. Finally, Jefferies Group boosted their price objective on Pioneer Energy Services Corp. from $3.50 to $5.00 and gave the company a “hold” rating in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Pioneer Energy Services Corp. has an average rating of “Hold” and an average target price of $3.44.

The firm has a 50-day moving average price of $4.15 and a 200-day moving average price of $2.79. The firm’s market capitalization is $178.15 million.

Pioneer Energy Services Corp. (NYSE:PES) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.01. The business earned $62.30 million during the quarter, compared to analysts’ expectations of $65.75 million. During the same period in the prior year, the firm posted ($0.17) EPS. Pioneer Energy Services Corp.’s revenue for the quarter was down 53.9% compared to the same quarter last year. Equities analysts forecast that Pioneer Energy Services Corp. will post ($1.22) earnings per share for the current fiscal year.

In other Pioneer Energy Services Corp. news, Director C John Thompson sold 8,995 shares of Pioneer Energy Services Corp. stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $4.10, for a total value of $36,879.50. Following the sale, the director now 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 available through the SEC website.

A hedge fund recently raised its stake in Pioneer Energy Services Corp. stock. First Trust Advisors LP increased its position in shares of Pioneer Energy Services Corp. (NYSE:PES) by 127.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 908,911 shares of the company’s stock after buying an additional 510,136 shares during the period. First Trust Advisors LP owned 1.41% of Pioneer Energy Services Corp. worth $1,972,000 as of its most recent filing with the SEC.

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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