Pioneer Energy Services (PES) Rating Increased to Buy at Seaport Global Securities

Seaport Global Securities upgraded shares of Pioneer Energy Services (NYSE:PES) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports.

A number of other equities analysts have also weighed in on PES. Jefferies Group reissued a buy rating and issued a $3.00 price objective on shares of Pioneer Energy Services in a research report on Friday, November 10th. ValuEngine lowered shares of Pioneer Energy Services from a sell rating to a strong sell rating in a research report on Friday, September 1st. Wells Fargo & Co lowered shares of Pioneer Energy Services from an outperform rating to a market perform rating in a research report on Monday, October 16th. Goldman Sachs Group lowered shares of Pioneer Energy Services from a buy rating to a neutral rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Pioneer Energy Services from a hold rating to a buy rating and set a $3.00 price target for the company in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Pioneer Energy Services has an average rating of Hold and an average target price of $4.41.

Pioneer Energy Services (PES) opened at $2.45 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77. The stock has a market cap of $194.30, a PE ratio of -1.83 and a beta of 2.94. Pioneer Energy Services has a 52-week low of $1.60 and a 52-week high of $7.20.

Pioneer Energy Services (NYSE:PES) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $117.28 million for the quarter, compared to analyst estimates of $114.82 million. Pioneer Energy Services had a negative return on equity of 26.46% and a negative net margin of 25.19%. The business’s revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.29) EPS. equities analysts expect that Pioneer Energy Services will post -0.68 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PES. Morgan Stanley grew its stake in Pioneer Energy Services by 33.9% during the first quarter. Morgan Stanley now owns 662,586 shares of the oil and gas company’s stock worth $2,651,000 after buying an additional 167,694 shares during the period. Renaissance Technologies LLC purchased a new stake in Pioneer Energy Services during the first quarter worth approximately $565,000. Metropolitan Life Insurance Co. NY grew its stake in Pioneer Energy Services by 9.6% during the first quarter. Metropolitan Life Insurance Co. NY now owns 59,160 shares of the oil and gas company’s stock worth $237,000 after buying an additional 5,206 shares during the period. Texas Permanent School Fund grew its stake in Pioneer Energy Services by 0.8% during the second quarter. Texas Permanent School Fund now owns 56,423 shares of the oil and gas company’s stock worth $116,000 after buying an additional 472 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in Pioneer Energy Services by 2.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 948,286 shares of the oil and gas company’s stock worth $1,944,000 after buying an additional 24,911 shares during the period. Institutional investors own 73.57% of the company’s stock.

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Pioneer Energy Services 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.

Analyst Recommendations for Pioneer Energy Services (NYSE:PES)

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