Pioneer Energy Services (NYSE:PES) Stock Rating Lowered by Johnson Rice

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Johnson Rice cut shares of Pioneer Energy Services (NYSE:PES) from an accumulate rating to a hold rating in a research report report published on Thursday morning, Briefing.com Automated Import reports.

A number of other brokerages have also commented on PES. Piper Jaffray Companies lowered shares of Pioneer Energy Services from an overweight rating to a neutral rating in a report on Thursday, June 27th. Imperial Capital cut their price objective 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, ValuEngine upgraded shares of Pioneer Energy Services from a sell rating to a hold rating in a report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $2.42.

NYSE:PES opened at $0.11 on Thursday. 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 firm has a market capitalization of $8.32 million, a price-to-earnings ratio of -0.20 and a beta of 3.23. The firm’s fifty day simple moving average is $0.21 and its 200 day simple moving average is $1.08. Pioneer Energy Services has a twelve month low of $0.16 and a twelve month 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 for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). The business had revenue of $152.84 million for 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, analysts predict that Pioneer Energy Services will post -0.59 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of PES. BlackRock Inc. grew its holdings in shares of Pioneer Energy Services by 1.4% during the fourth quarter. BlackRock Inc. now owns 11,327,120 shares of the oil and gas company’s stock worth $13,932,000 after purchasing an additional 151,504 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Pioneer Energy Services by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 812,842 shares of the oil and gas company’s stock worth $999,000 after purchasing an additional 48,553 shares during the last quarter. Bank of America Corp DE grew 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 worth $583,000 after purchasing an additional 38,857 shares during the last quarter. Crossvault Capital Management LLC purchased a new position in shares of Pioneer Energy Services during the first quarter worth about $64,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Pioneer Energy Services by 92.9% during the first 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 during the last quarter. Hedge funds and other institutional investors own 70.29% 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. 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.

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Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

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