Pioneer Energy Services Corp (PES) Receives Average Rating of “Buy” from Brokerages

Shares of Pioneer Energy Services Corp (NYSE:PES) have received an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.31.

PES has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Pioneer Energy Services Corp in a report on Wednesday. Zacks Investment Research raised shares of Pioneer Energy Services Corp from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a report on Wednesday, January 11th. Goldman Sachs Group Inc raised shares of Pioneer Energy Services Corp from a “neutral” rating to a “buy” rating in a report on Friday, December 16th. Wunderlich raised shares of Pioneer Energy Services Corp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $5.00 to $7.00 in a report on Monday, December 12th. Finally, Scotiabank reaffirmed a “hold” rating and issued a $7.00 target price on shares of Pioneer Energy Services Corp in a report on Wednesday.

Shares of Pioneer Energy Services Corp (NYSE:PES) opened at 4.00 on Monday. The stock’s market capitalization is $307.92 million. Pioneer Energy Services Corp has a 52 week low of $1.98 and a 52 week high of $7.20. The company’s 50 day moving average is $5.32 and its 200-day moving average is $5.03.

Pioneer Energy Services Corp (NYSE:PES) last issued its earnings results on Friday, February 17th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by $0.03. The firm earned $71.50 million during the quarter, compared to analysts’ expectations of $70.47 million. Pioneer Energy Services Corp had a negative return on equity of 24.83% and a negative net margin of 45.35%. The firm’s quarterly revenue was down 31.6% on a year-over-year basis. During the same period last year, the firm posted ($0.25) earnings per share. On average, equities analysts predict that Pioneer Energy Services Corp will post ($0.62) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Pioneer Energy Services Corp by 0.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 508,286 shares of the company’s stock worth $3,482,000 after buying an additional 4,040 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Pioneer Energy Services Corp by 21.3% in the fourth quarter. AQR Capital Management LLC now owns 209,507 shares of the company’s stock worth $1,435,000 after buying an additional 36,755 shares in the last quarter. Tudor Investment Corp Et Al bought a new stake in shares of Pioneer Energy Services Corp during the fourth quarter worth approximately $352,000. Two Sigma Investments LP raised its stake in shares of Pioneer Energy Services Corp by 810.5% in the fourth quarter. Two Sigma Investments LP now owns 414,489 shares of the company’s stock worth $2,839,000 after buying an additional 368,964 shares in the last quarter. Finally, GeoSphere Capital Management bought a new stake in shares of Pioneer Energy Services Corp during the fourth quarter worth approximately $3,083,000. Hedge funds and other institutional investors own 62.40% of the company’s stock.

Pioneer Energy Services Corp 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.

5 Day Chart for NYSE:PES

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