Zacks Investment Research upgraded shares of Pioneer Energy Services (NYSE:PES) from a sell rating to a hold rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas. “

A number of other equities research analysts have also recently commented on the stock. ValuEngine upgraded shares of Pioneer Energy Services from a sell rating to a hold rating in a research note on Thursday, August 1st. Piper Jaffray Companies cut shares of Pioneer Energy Services from an overweight rating to a neutral rating in a research note on Thursday, June 27th. Imperial Capital decreased their target price on shares of Pioneer Energy Services from $2.00 to $1.00 and set an in-line rating on the stock in a research note on Thursday, May 30th. Finally, Johnson Rice cut shares of Pioneer Energy Services from an accumulate rating to a hold rating in a research note on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $2.42.

NYSE PES opened at $0.16 on Friday. Pioneer Energy Services has a 12 month low of $0.16 and a 12 month high of $3.65. The stock has a market cap of $8.32 million, a price-to-earnings ratio of -0.31 and a beta of 3.23. The company’s 50 day moving average is $0.21 and its two-hundred day moving average is $1.07. The company has a current ratio of 2.01, a quick ratio of 1.79 and a debt-to-equity ratio of 3.42.

Pioneer Energy Services (NYSE:PES) last released its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). Pioneer Energy Services had a negative net margin of 8.09% and a negative return on equity of 26.26%. The company had revenue of $152.84 million for the quarter, compared to analysts’ expectations of $151.43 million. Sell-side analysts forecast that Pioneer Energy Services will post -0.59 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Pioneer Energy Services by 1.4% during the fourth quarter. BlackRock Inc. now owns 11,327,120 shares of the oil and gas company’s stock valued at $13,932,000 after buying an additional 151,504 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pioneer Energy Services by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 812,842 shares of the oil and gas company’s stock valued at $999,000 after buying an additional 48,553 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Pioneer Energy Services during the second quarter valued at approximately $123,000. Bank of America Corp DE raised its position in shares of Pioneer Energy Services by 8.9% during the fourth quarter. Bank of America Corp DE now owns 474,723 shares of the oil and gas company’s stock valued at $583,000 after buying an additional 38,857 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Pioneer Energy Services during the second quarter valued at approximately $86,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About Pioneer Energy Services

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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