Pioneer Energy Services (PES) Stock Price Down 6.7%

Shares of Pioneer Energy Services Corp (NYSE:PES) traded down 6.7% during trading on Thursday . The company traded as low as $2.80 and last traded at $2.80. 758,575 shares changed hands during trading, a decline of 30% from the average session volume of 1,090,073 shares. The stock had previously closed at $3.00.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Thursday, January 18th. Wells Fargo & Co cut Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. ValuEngine upgraded Pioneer Energy Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th. Goldman Sachs Group cut Pioneer Energy Services from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Finally, Jefferies Group reiterated a “buy” rating and set a $3.00 target price on shares of Pioneer Energy Services in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.00.

The company has a debt-to-equity ratio of 1.77, a current ratio of 1.75 and a quick ratio of 1.61. The company has a market capitalization of $217.61, a PE ratio of -2.09 and a beta of 2.92.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in shares of Pioneer Energy Services by 230.7% during the second quarter. Citigroup Inc. now owns 63,848 shares of the oil and gas company’s stock worth $131,000 after buying an additional 44,541 shares during the last quarter. BlueCrest Capital Management Ltd grew its holdings in shares of Pioneer Energy Services by 532.0% during the second quarter. BlueCrest Capital Management Ltd now owns 76,328 shares of the oil and gas company’s stock worth $156,000 after buying an additional 64,251 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Pioneer Energy Services by 275.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 61,006 shares of the oil and gas company’s stock worth $186,000 after buying an additional 44,763 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Pioneer Energy Services during the third quarter worth about $188,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Pioneer Energy Services by 35.2% during the second quarter. Alliancebernstein L.P. now owns 92,952 shares of the oil and gas company’s stock worth $191,000 after buying an additional 24,200 shares during the last quarter. 73.94% of the stock is currently owned by hedge funds and other institutional investors.

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About Pioneer Energy Services

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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