Pioneer Energy Services (NYSE:PES) Downgraded to “Hold” at Johnson Rice

Pioneer Energy Services (NYSE:PES) was downgraded by equities research analysts at Johnson Rice from an “accumulate” rating to a “hold” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other analysts also recently commented on the stock. ValuEngine upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Imperial Capital dropped their target price on shares of Pioneer Energy Services from $2.00 to $1.00 and set an “in-line” rating on the stock in a report on Thursday, May 30th. Zacks Investment Research upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Piper Jaffray Companies downgraded shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $2.42.

Pioneer Energy Services stock traded down $0.01 during midday trading on Thursday, reaching $0.16. 373,500 shares of the stock traded hands, compared to its average volume of 4,216,668. The company has a current ratio of 2.01, a quick ratio of 1.79 and a debt-to-equity ratio of 3.42. The stock has a fifty day moving average price of $0.22. The firm has a market cap of $13.98 million, a price-to-earnings ratio of -0.31 and a beta of 3.23. Pioneer Energy Services has a fifty-two week low of $0.16 and a fifty-two week high of $3.65.

Pioneer Energy Services (NYSE:PES) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). The firm had revenue of $152.84 million during the quarter, compared to analyst estimates of $151.43 million. Pioneer Energy Services had a negative net margin of 8.09% and a negative return on equity of 26.26%. On average, research analysts expect that Pioneer Energy Services will post -0.59 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Pioneer Energy Services by 92.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,993 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 8,184 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Pioneer Energy Services by 60.4% during the first quarter. SG Americas Securities LLC now owns 32,923 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 12,392 shares during the period. Crossvault Capital Management LLC acquired a new stake in shares of Pioneer Energy Services during the first quarter valued at approximately $64,000. Bank of America Corp DE raised its holdings in shares of Pioneer Energy Services by 8.9% during the fourth quarter. Bank of America Corp DE now owns 474,723 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 38,857 shares during the period. Finally, Everence Capital Management Inc. raised its holdings in shares of Pioneer Energy Services by 133.0% during the first quarter. Everence Capital Management Inc. now owns 83,910 shares of the oil and gas company’s stock valued at $149,000 after acquiring an additional 47,890 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies. It provides contract land drilling services in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, as well as in Colombia. The company operates 16 AC rigs in the United States and 8 SCR rigs in Colombia.

Further Reading: What does a bar chart display?

The Fly

Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

Receive News & Ratings for Pioneer Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.