Pioneer Energy Services Corp (PES) Receives Average Recommendation of “Hold” from Brokerages

Pioneer Energy Services Corp (NYSE:PES) has received an average rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $3.50.

PES has been the subject of several recent analyst reports. Piper Jaffray Companies set a $2.00 price objective on shares of Pioneer Energy Services and gave the stock a “buy” rating in a research report on Thursday, December 27th. Simmons reduced their price objective on shares of Pioneer Energy Services to $2.25 and set an “overweight” rating for the company in a research report on Thursday, December 27th. Imperial Capital restated an “in-line” rating and set a $3.00 price objective on shares of Pioneer Energy Services in a research report on Thursday, January 10th. ValuEngine downgraded shares of Pioneer Energy Services from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Capital One Financial downgraded shares of Pioneer Energy Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th.

Pioneer Energy Services stock traded down $0.01 during trading on Thursday, reaching $2.05. The stock had a trading volume of 685,251 shares, compared to its average volume of 525,255. The company has a market capitalization of $163.19 million, a P/E ratio of -3.94 and a beta of 3.04. The company has a quick ratio of 1.87, a current ratio of 2.05 and a debt-to-equity ratio of 2.81. Pioneer Energy Services has a 52-week low of $1.14 and a 52-week high of $6.35.

Pioneer Energy Services (NYSE:PES) last issued its quarterly earnings data on Tuesday, February 19th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $141.51 million during the quarter, compared to the consensus estimate of $141.88 million. Pioneer Energy Services had a negative net margin of 8.31% and a negative return on equity of 22.61%. As a group, research analysts anticipate that Pioneer Energy Services will post -0.47 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC increased its holdings in shares of Pioneer Energy Services by 1,030.5% in the 4th quarter. FNY Investment Advisers LLC now owns 26,046 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 23,742 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of Pioneer Energy Services in the 4th quarter valued at $37,000. Penn Capital Management Co. Inc. acquired a new position in shares of Pioneer Energy Services in the 3rd quarter valued at $100,000. Mackay Shields LLC acquired a new position in shares of Pioneer Energy Services in the 4th quarter valued at $44,000. Finally, Virtu Financial LLC increased its holdings in shares of Pioneer Energy Services by 314.7% in the 4th quarter. Virtu Financial LLC now owns 52,287 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 39,680 shares during the period. 73.52% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

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