Pioneer Energy Services (NYSE:PES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, January 25th. The brokerage currently has a $4.25 target price on the oil and gas company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 54.55% from the stock’s previous close.
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. “
PES has been the subject of a number of other research reports. Wells Fargo & Co cut shares of Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Imperial Capital initiated coverage on shares of Pioneer Energy Services in a report on Wednesday, October 4th. They issued an “in-line” rating and a $3.00 price target for the company. ValuEngine raised shares of Pioneer Energy Services from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Goldman Sachs Group lowered shares of Pioneer Energy Services from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Finally, Jefferies Group reiterated a “buy” rating and issued a $3.00 price objective on shares of Pioneer Energy Services in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $4.00.
Shares of Pioneer Energy Services (PES) opened at $2.75 on Thursday. Pioneer Energy Services has a 52-week low of $1.60 and a 52-week high of $6.60. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.61 and a current ratio of 1.75. The company has a market cap of $213.73, a P/E ratio of -2.05 and a beta of 2.92.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Pioneer Energy Services by 0.7% during the fourth quarter. BlackRock Inc. now owns 10,537,299 shares of the oil and gas company’s stock valued at $32,139,000 after purchasing an additional 70,918 shares in the last quarter. Van Den Berg Management I Inc. lifted its holdings in Pioneer Energy Services by 3.0% during the third quarter. Van Den Berg Management I Inc. now owns 6,918,334 shares of the oil and gas company’s stock valued at $17,642,000 after purchasing an additional 204,335 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Pioneer Energy Services by 3.7% during the second quarter. Vanguard Group Inc. now owns 3,797,501 shares of the oil and gas company’s stock valued at $7,785,000 after purchasing an additional 134,045 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Pioneer Energy Services by 67.1% in the third quarter. Macquarie Group Ltd. now owns 3,440,687 shares of the oil and gas company’s stock worth $8,774,000 after buying an additional 1,382,209 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in shares of 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 worth $4,281,000 after buying an additional 1,662,241 shares in the last quarter. 73.94% of the stock is currently owned by institutional investors and hedge funds.
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Pioneer Energy Services Company Profile
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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