Pioneer Energy Services (NYSE:PES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas. “

Several other equities analysts also recently commented on the stock. ValuEngine upgraded shares of Pioneer Energy Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. Seaport Global Securities upgraded shares of Pioneer Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Jefferies Group reiterated a “buy” rating and set a $3.00 target price on shares of Pioneer Energy Services in a research note on Friday, November 10th. Wells Fargo & Co downgraded shares of Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group downgraded shares of Pioneer Energy Services from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $4.50.

Pioneer Energy Services (NYSE PES) traded down $0.35 during trading hours on Wednesday, hitting $3.65. 1,419,200 shares of the company’s stock traded hands, compared to its average volume of 1,357,930. The firm has a market capitalization of $283.67, a P/E ratio of -2.72 and a beta of 2.92. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77. Pioneer Energy Services has a fifty-two week low of $1.60 and a fifty-two week high of $6.65.

Pioneer Energy Services (NYSE:PES) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The business had revenue of $117.28 million during the quarter, compared to analyst estimates of $114.82 million. Pioneer Energy Services had a negative return on equity of 26.46% and a negative net margin of 25.19%. The business’s revenue was up 71.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. research analysts expect that Pioneer Energy Services will post -0.68 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PES. Van Den Berg Management I Inc. lifted its position in Pioneer Energy Services by 104.1% in the first quarter. Van Den Berg Management I Inc. now owns 4,105,301 shares of the oil and gas company’s stock valued at $16,421,000 after acquiring an additional 2,094,010 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in Pioneer Energy Services in the fourth quarter valued at $4,141,000. Point72 Asset Management L.P. purchased a new stake in Pioneer Energy Services in the first quarter valued at $7,571,000. Balyasny Asset Management LLC lifted its position in Pioneer Energy Services by 390.0% in the second quarter. Balyasny Asset Management LLC now owns 2,088,468 shares of the oil and gas company’s stock valued at $4,281,000 after acquiring an additional 1,662,241 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Pioneer Energy Services by 93.8% in the second quarter. Franklin Resources Inc. now owns 2,912,950 shares of the oil and gas company’s stock valued at $5,972,000 after acquiring an additional 1,410,000 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

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About Pioneer Energy Services

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.

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