Pioneer Energy Services (NASDAQ:PESX) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Pioneer Energy Services (NASDAQ:PESX) from a hold rating to a sell rating in a research report released on Friday morning, Zacks.com reports.

According to Zacks, “Pioneer Energy Services Corp. provides land contract drilling services and production services to independent and major oil and gas exploration and production companies. The company’s Drilling Services division provides contract land drilling services to operators in Texas, Louisiana, Mid-Continent, Rocky Mountain, and Appalachian regions; and in Colombia. Pioneer also provides well servicing, wireline, coiled tubing and fishing and rental services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment. Pioneer Energy Services Corp., formerly known as Pioneer Drilling Company, is based in San Antonio, Texas. “

Shares of NASDAQ PESX opened at $0.15 on Friday. Pioneer Energy Services has a 1-year low of $0.06 and a 1-year high of $0.18.

Pioneer Energy Services (NASDAQ:PESX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $152.84 million for the quarter, compared to analyst estimates of $151.43 million.

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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