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

ValuEngine upgraded shares of Pioneer Energy Services (NYSE:PES) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

PES has been the subject of a number of other reports. Piper Jaffray Companies lowered Pioneer Energy Services from an overweight rating to a neutral rating in a research report on Thursday, June 27th. Imperial Capital decreased their target price on Pioneer Energy Services from $2.00 to $1.00 and set an in-line rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Pioneer Energy Services has a consensus rating of Hold and an average target price of $2.42.

PES traded down $0.02 during trading hours on Thursday, reaching $0.19. 3,115,212 shares of the company’s stock traded hands, compared to its average volume of 5,458,555. The company’s 50-day moving average price is $0.24. Pioneer Energy Services has a 52-week low of $0.18 and a 52-week high of $3.65. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 3.42.

Pioneer Energy Services (NYSE:PES) last issued its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.15). The business had revenue of $152.84 million during the quarter, compared to analyst estimates of $151.43 million. Pioneer Energy Services had a negative return on equity of 26.26% and a negative net margin of 8.09%. Equities analysts anticipate that Pioneer Energy Services will post -0.55 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its position in shares of 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 acquiring an additional 8,184 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Pioneer Energy Services by 287.2% in the 2nd quarter. SG Americas Securities LLC now owns 127,468 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 94,545 shares in the last quarter. Mackay Shields LLC bought a new position in shares of Pioneer Energy Services in the 4th quarter worth $44,000. Crossvault Capital Management LLC bought a new position in shares of Pioneer Energy Services in the 1st quarter worth $64,000. Finally, Everence Capital Management Inc. raised its position in shares of 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 acquiring an additional 47,890 shares in the last quarter. 71.81% of the stock is owned by institutional investors and hedge funds.

Pioneer Energy Services Company Profile

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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