Pioneer Energy Services Corp (PES) Given Average Rating of “Buy” by Analysts

Shares of Pioneer Energy Services Corp (NYSE:PES) have earned an average recommendation of “Buy” from the eleven research firms that are currently covering the company. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.21.

Several equities analysts have recently issued reports on the company. Capital One Financial Corp. assumed coverage on Pioneer Energy Services Corp in a research report on Monday, February 6th. They issued an “overweight” rating and a $8.50 price target for the company. Zacks Investment Research raised Pioneer Energy Services Corp from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Wednesday, January 11th. Goldman Sachs Group Inc raised Pioneer Energy Services Corp from a “neutral” rating to a “buy” rating in a research report on Friday, December 16th. Finally, Wunderlich raised Pioneer Energy Services Corp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $5.00 to $7.00 in a research report on Monday, December 12th.

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Several hedge funds and other institutional investors have recently made changes to their positions in PES. JPMorgan Chase & Co. increased its position in shares of Pioneer Energy Services Corp by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 2,652,244 shares of the company’s stock worth $10,715,000 after buying an additional 25,126 shares during the period. Thrivent Financial for Lutherans increased its position 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 during the period. Matarin Capital Management LLC bought a new position in shares of Pioneer Energy Services Corp during the third quarter worth about $2,788,000. Phoenix Investment Adviser LLC increased its position in shares of Pioneer Energy Services Corp by 184.3% in the third quarter. Phoenix Investment Adviser LLC now owns 242,199 shares of the company’s stock worth $978,000 after buying an additional 157,000 shares during the period. Finally, 1492 Capital Management LLC bought a new position in shares of Pioneer Energy Services Corp during the third quarter worth about $2,464,000. Institutional investors own 62.40% of the company’s stock.

Shares of Pioneer Energy Services Corp (NYSE:PES) traded down 0.575% during trading on Monday, reaching $4.325. 415,680 shares of the company’s stock were exchanged. Pioneer Energy Services Corp has a 12 month low of $1.88 and a 12 month high of $7.20. The firm’s market cap is $332.94 million. The stock has a 50-day moving average price of $5.62 and a 200 day moving average price of $5.02.

Pioneer Energy Services Corp (NYSE:PES) last posted its quarterly 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 company 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%. Pioneer Energy Services Corp’s revenue for the quarter was down 31.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.25) EPS. On average, analysts forecast that Pioneer Energy Services Corp will post ($0.62) EPS for the current year.

About Pioneer Energy Services Corp

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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