Pioneer Energy Services (NYSE:PES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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 topic of several other research reports. ValuEngine lowered Pioneer Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Piper Jaffray Companies set a $4.00 target price on Pioneer Energy Services and gave the company a “buy” rating in a report on Wednesday, October 3rd. Wells Fargo & Co set a $3.00 target price on Pioneer Energy Services and gave the company a “hold” rating in a report on Monday, October 15th. Jefferies Financial Group lowered Pioneer Energy Services from a “buy” rating to a “hold” rating and set a $6.00 target price on the stock. in a report on Tuesday, July 10th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $5.00 target price on shares of Pioneer Energy Services in a report on Wednesday, August 1st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.14.
NYSE:PES opened at $3.10 on Thursday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.95 and a current ratio of 2.16. Pioneer Energy Services has a 12 month low of $1.90 and a 12 month high of $6.35.
Pioneer Energy Services (NYSE:PES) last posted its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.07. The firm had revenue of $149.33 million for the quarter, compared to analyst estimates of $149.27 million. Pioneer Energy Services had a negative return on equity of 19.97% and a negative net margin of 8.19%. On average, equities analysts predict that Pioneer Energy Services will post -0.59 earnings per share for the current fiscal year.
In other Pioneer Energy Services news, Director C John Thompson sold 15,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $3.37, for a total value of $50,550.00. Following the completion of the transaction, the director now owns 51,476 shares in the company, valued at $173,474.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 23,000 shares of company stock valued at $78,250 in the last 90 days. 6.05% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Pioneer Energy Services in the second quarter valued at $107,000. Metropolitan Life Insurance Co. NY acquired a new position in Pioneer Energy Services in the second quarter valued at $161,000. SG Americas Securities LLC boosted its stake in Pioneer Energy Services by 123.5% in the second quarter. SG Americas Securities LLC now owns 29,477 shares of the oil and gas company’s stock valued at $172,000 after acquiring an additional 16,289 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Pioneer Energy Services by 154.3% in the second quarter. Cubist Systematic Strategies LLC now owns 30,353 shares of the oil and gas company’s stock valued at $178,000 after acquiring an additional 18,415 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Pioneer Energy Services in the first quarter valued at $197,000. Institutional investors own 75.35% of the company’s stock.
Pioneer Energy Services Company Profile
Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies in the United States and Colombia. The company offers contract land drilling services in the Marcellus/Utica, Eagle Ford, Permian Basin, and Bakken regions, as well as in Colombia.
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