Zacks: Brokerages Set $0.93 Target Price for Pioneer Energy Services Corp. (NASDAQ:PESX)

Pioneer Energy Services Corp. (NASDAQ:PESX) has received an average broker rating score of 3.00 (Hold) from the six analysts that cover the company, Zacks Investment Research reports. Six investment analysts have rated the stock with a hold rating. Pioneer Energy Services’ rating score has declined by 17.2% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 1 year consensus target price of $0.93 for the company and are anticipating that the company will post ($0.18) EPS for the current quarter, according to Zacks. Zacks has also given Pioneer Energy Services an industry rank of 150 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Pioneer Energy Services from a “sell” rating to a “hold” rating in a research note on Saturday.

Shares of PESX remained flat at $$0.14 during mid-day trading on Friday. 114,734 shares of the stock were exchanged, compared to its average volume of 1,637,109. Pioneer Energy Services has a twelve month low of $0.06 and a twelve month high of $0.18.

Pioneer Energy Services (NASDAQ:PESX) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The business had revenue of $152.84 million during the quarter, compared to analysts’ expectations of $151.43 million.

About Pioneer Energy Services

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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