Pioneer Energy Services Corp (NYSE:PES)’s share price was down 3.6% during mid-day trading on Friday . The stock traded as low as $0.26 and last traded at $0.27, approximately 5,727,465 shares traded hands during trading. An increase of 163% from the average daily volume of 2,174,249 shares. The stock had previously closed at $0.28.

Several equities research analysts recently issued reports on PES shares. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Imperial Capital decreased their price target on shares of Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating on the stock in a report on Thursday, May 30th. Finally, Piper Jaffray Companies lowered shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.79.

The company has a quick ratio of 1.80, a current ratio of 1.99 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $21.43 million, a PE ratio of -0.51 and a beta of 3.26. The business has a fifty day moving average of $0.30.

Pioneer Energy Services (NYSE:PES) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.04. Pioneer Energy Services had a negative net margin of 8.95% and a negative return on equity of 26.33%. The firm had revenue of $146.57 million for the quarter, compared to analyst estimates of $143.93 million. As a group, sell-side analysts anticipate that Pioneer Energy Services Corp will post -0.51 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Everence Capital Management Inc. raised its position in Pioneer Energy Services by 133.0% in the 1st quarter. Everence Capital Management Inc. now owns 83,910 shares of the oil and gas company’s stock worth $149,000 after buying an additional 47,890 shares during the last quarter. Rhumbline Advisers raised its position in Pioneer Energy Services by 29.5% in the 1st quarter. Rhumbline Advisers now owns 336,828 shares of the oil and gas company’s stock worth $596,000 after buying an additional 76,755 shares during the last quarter. SG Americas Securities LLC raised its position in Pioneer Energy Services by 60.4% in the 1st quarter. SG Americas Securities LLC now owns 32,923 shares of the oil and gas company’s stock worth $58,000 after buying an additional 12,392 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Pioneer Energy Services by 92.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,993 shares of the oil and gas company’s stock worth $30,000 after buying an additional 8,184 shares during the last quarter. Finally, Crossvault Capital Management LLC purchased a new position in Pioneer Energy Services in the 1st quarter worth about $64,000. 72.40% of the stock is currently owned by hedge funds and other institutional investors.

About Pioneer Energy Services (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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