Pioneer Energy Services Corp. (NYSE:PES) shot up 11.1% on Wednesday . The stock traded as high as $2.05 and last traded at $2.00. 877,320 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 809,334 shares. The stock had previously closed at $1.80.

Several research firms have recently weighed in on PES. ValuEngine raised shares of Pioneer Energy Services Corp. from a “strong sell” rating to a “sell” rating in a report on Friday, July 14th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Pioneer Energy Services Corp. in a report on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $2.75 target price on shares of Pioneer Energy Services Corp. in a report on Thursday, August 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $6.00 target price (down previously from $7.00) on shares of Pioneer Energy Services Corp. in a report on Tuesday, May 30th. Finally, Zacks Investment Research lowered shares of Pioneer Energy Services Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.19.

The company has a 50 day moving average price of $2.01 and a 200 day moving average price of $2.98. The company’s market cap is $158.62 million.

Pioneer Energy Services Corp. (NYSE:PES) last released its earnings results on Tuesday, August 1st. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.03. Pioneer Energy Services Corp. had a negative net margin of 33.86% and a negative return on equity of 28.63%. The business had revenue of $107.13 million during the quarter, compared to the consensus estimate of $105.23 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The business’s revenue was up 72.0% on a year-over-year basis. On average, equities research analysts forecast that Pioneer Energy Services Corp. will post ($0.66) earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Pioneer Energy Services Corp. by 19.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,549,757 shares of the oil and gas company’s stock valued at $26,199,000 after acquiring an additional 1,044,979 shares during the last quarter. Van Den Berg Management I Inc. grew its position in Pioneer Energy Services Corp. by 104.1% in the first quarter. Van Den Berg Management I Inc. now owns 4,105,301 shares of the oil and gas company’s stock valued at $16,421,000 after acquiring an additional 2,094,010 shares during the last quarter. Vanguard Group Inc. grew its position in Pioneer Energy Services Corp. by 3.7% in the second quarter. Vanguard Group Inc. now owns 3,797,501 shares of the oil and gas company’s stock valued at $7,785,000 after acquiring an additional 134,045 shares during the last quarter. Franklin Resources Inc. grew its position in Pioneer Energy Services Corp. by 93.8% in the second quarter. Franklin Resources Inc. now owns 2,912,950 shares of the oil and gas company’s stock valued at $5,972,000 after acquiring an additional 1,410,000 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its position in Pioneer Energy Services Corp. 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 valued at $4,281,000 after acquiring an additional 1,662,241 shares during the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s stock.

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About Pioneer Energy Services Corp.

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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