Pioneer Energy Services Corp. (NYSE:PES) fell 5.9% during mid-day trading on Tuesday . The company traded as low as $3.18 and last traded at $3.20, with a volume of 516,152 shares trading hands. The stock had previously closed at $3.40.

A number of research firms have recently issued reports on PES. Zacks Investment Research upgraded Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Wednesday, July 6th. Wells Fargo & Co. upgraded Pioneer Energy Services Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 18th. Jefferies Group raised their price objective on Pioneer Energy Services Corp. from $3.50 to $5.00 and gave the company a “hold” rating in a research note on Monday, July 11th. Simmons upgraded Pioneer Energy Services Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $3.00 to $5.25 in a research note on Wednesday, June 29th. Finally, Piper Jaffray Cos. upgraded Pioneer Energy Services Corp. from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 29th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $3.72.

The company has a 50-day moving average price of $3.43 and a 200-day moving average price of $3.30. The stock’s market cap is $207.30 million.

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Pioneer Energy Services Corp. (NYSE:PES) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. The firm earned $62.30 million during the quarter, compared to analysts’ expectations of $65.75 million. Pioneer Energy Services Corp. had a negative return on equity of 21.42% and a negative net margin of 35.38%. The business’s revenue for the quarter was down 53.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, analysts expect that Pioneer Energy Services Corp. will post ($1.24) earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of Pioneer Energy Services Corp. by 2.8% in the first quarter. Acadian Asset Management LLC now owns 1,637,656 shares of the company’s stock worth $3,602,000 after buying an additional 44,030 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Pioneer Energy Services Corp. by 29.5% in the first quarter. Prudential Financial Inc. now owns 188,451 shares of the company’s stock worth $415,000 after buying an additional 42,877 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Pioneer Energy Services Corp. by 35.1% in the first quarter. Franklin Resources Inc. now owns 2,058,722 shares of the company’s stock worth $4,529,000 after buying an additional 534,900 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Pioneer Energy Services Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,737,743 shares of the company’s stock worth $3,823,000 after buying an additional 8,162 shares in the last quarter. Finally, Spark Investment Management LLC boosted its stake in shares of Pioneer Energy Services Corp. by 491.3% in the first quarter. Spark Investment Management LLC now owns 447,600 shares of the company’s stock worth $984,000 after buying an additional 371,900 shares in the last quarter. 73.84% of the stock is owned by institutional investors.

About Pioneer Energy Services Corp.

Pioneer Energy Services Corp. provides land-based drilling services and production services to oil and gas exploration, and production companies in the United States and internationally in Colombia. The Company operates through two segments: Drilling Services and Production Services. The Drilling Services Segment provides contract land drilling services to a group of exploration and production companies through its four drilling divisions in the United States, and internationally in Colombia.

5 Day Chart for NYSE:PES

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