Pioneer Energy Services Corp. (NYSE:PES) was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Pioneer Energy Services Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, October 7th. Imperial Capital assumed coverage on Pioneer Energy Services Corp. in a research report on Wednesday, October 4th. They set an “in-line” rating and a $3.00 target price on the stock. ValuEngine downgraded Pioneer Energy Services Corp. from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Seaport Global Securities reiterated a “neutral” rating on shares of Pioneer Energy Services Corp. in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $2.75 price objective on shares of Pioneer Energy Services Corp. in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Pioneer Energy Services Corp. has a consensus rating of “Hold” and an average price target of $5.03.

Pioneer Energy Services Corp. (NYSE:PES) traded up 2.33% during mid-day trading on Thursday, reaching $2.20. The company had a trading volume of 400,821 shares. The stock’s market capitalization is $170.23 million. Pioneer Energy Services Corp. has a one year low of $1.60 and a one year high of $7.20. The company’s 50-day moving average is $2.17 and its 200-day moving average is $2.54.

Pioneer Energy Services Corp. (NYSE:PES) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.03). The firm had revenue of $107.13 million during the quarter, compared to analysts’ expectations of $105.23 million. Pioneer Energy Services Corp. had a negative net margin of 33.86% and a negative return on equity of 28.63%. Pioneer Energy Services Corp.’s revenue for the quarter was up 72.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) EPS. Equities research analysts anticipate that Pioneer Energy Services Corp. will post ($0.66) earnings per share for the current year.

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Several large investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd grew its stake in shares of Pioneer Energy Services Corp. by 532.0% during the second quarter. BlueCrest Capital Management Ltd now owns 76,328 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 64,251 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Pioneer Energy Services Corp. by 76.0% during the second quarter. Macquarie Group Ltd. now owns 2,058,478 shares of the oil and gas company’s stock worth $4,220,000 after purchasing an additional 889,179 shares during the period. Balyasny Asset Management LLC boosted its holdings in shares of Pioneer Energy Services Corp. by 390.0% during the second quarter. Balyasny Asset Management LLC now owns 2,088,468 shares of the oil and gas company’s stock worth $4,281,000 after purchasing an additional 1,662,241 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of Pioneer Energy Services Corp. by 17.3% during the second quarter. Parametric Portfolio Associates LLC now owns 506,420 shares of the oil and gas company’s stock worth $1,038,000 after purchasing an additional 74,725 shares during the period. Finally, FMR LLC purchased a new stake in shares of Pioneer Energy Services Corp. during the second quarter worth about $1,584,000. 73.95% of the stock is currently owned by hedge funds and other institutional investors.

About Pioneer Energy Services Corp.

Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.

The Fly

Analyst Recommendations for Pioneer Energy Services Corp. (NYSE:PES)

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