ValuEngine Upgrades Pioneer Energy Services (NYSE:PES) to “Hold”

Pioneer Energy Services (NYSE:PES) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, August 7th.

A number of other research analysts have also recently issued reports on the company. Seaport Global Securities reissued a “buy” rating and set a $5.00 price objective on shares of Pioneer Energy Services in a report on Wednesday, August 1st. Jefferies Financial Group lowered Pioneer Energy Services from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a research report on Tuesday, July 10th. Finally, Zacks Investment Research upgraded Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Pioneer Energy Services currently has a consensus rating of “Hold” and a consensus target price of $4.75.

PES stock traded down $0.05 during midday trading on Tuesday, hitting $3.20. 623,500 shares of the company traded hands, compared to its average volume of 816,593. Pioneer Energy Services has a twelve month low of $1.60 and a twelve month high of $6.35. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.53. The company has a market cap of $246.38 million, a PE ratio of -4.57 and a beta of 2.90.

Pioneer Energy Services (NYSE:PES) last announced its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The company had revenue of $154.78 million during the quarter, compared to analyst estimates of $154.84 million. Pioneer Energy Services had a negative return on equity of 21.71% and a negative net margin of 10.88%. equities analysts expect that Pioneer Energy Services will post -0.49 EPS for the current fiscal year.

In other news, Director C John Thompson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $3.30, for a total transaction of $33,000.00. Following the sale, the director now owns 51,476 shares in the company, valued at approximately $169,870.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 33,000 shares of company stock worth $111,250. Company insiders own 6.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Pioneer Energy Services by 3.0% during the 2nd quarter. BlackRock Inc. now owns 11,242,041 shares of the oil and gas company’s stock worth $65,766,000 after acquiring an additional 328,918 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Pioneer Energy Services by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,505,737 shares of the oil and gas company’s stock worth $38,058,000 after acquiring an additional 152,183 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Pioneer Energy Services by 11.4% during the 2nd quarter. Macquarie Group Ltd. now owns 4,570,748 shares of the oil and gas company’s stock worth $26,739,000 after acquiring an additional 467,418 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Pioneer Energy Services by 12.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,699,591 shares of the oil and gas company’s stock worth $4,589,000 after acquiring an additional 182,802 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Pioneer Energy Services by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,371,587 shares of the oil and gas company’s stock worth $3,703,000 after acquiring an additional 11,808 shares during the last quarter. Institutional investors own 74.73% 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 in the United States and Colombia. The company offers contract land drilling services in the Marcellus/Utica, Eagle Ford, Permian Basin, and Bakken regions, as well as in Colombia.

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