Pioneer Energy Services Corp (PES) is Upgraded by Wells Fargo to Outperform

Pioneer Energy Services Corp (PES) was Upgraded by Wells Fargo to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Pioneer Energy Services Corp. Pioneer Energy Services Corp was Upgraded by Piper Jaffray to ” Neutral” on Jun 29, 2016. Company shares were Reiterated by Wunderlich on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 3 from a previous price target of $2 .

On the company’s financial health, Pioneer Energy Services Corp reported $-0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.33. The company had revenue of $75.00 million for the quarter, compared to analysts expectations of $78.03 million. The company’s revenue was down -61.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.13 EPS.

Pioneer Energy Services Corp opened for trading at $4.46 and hit $4.46 on the upside on Friday, eventually ending the session at $4.37, with a gain of 0.23% or 0.01 points. The heightened volatility saw the trading volume jump to 5,86,868 shares. Company has a market cap of $283 M.

In a different news, on Jun 7, 2016, C John Thompson (director) sold 8,995 shares at $4.15 per share price. According to the SEC, on Mar 4, 2016, Dean A Burkhardt (director) purchased 10,000 shares at $2.15 per share price. On Mar 3, 2016, John M Rauh (director) purchased 1,500 shares at $1.63 per share price, according to the Form-4 filing with the securities and exchange commission.

Pioneer Energy Services Corp. provides drilling services and production services to oil and gas exploration and production companies throughout onshore oil and gas producing regions of the United States and in Colombia. The Company conducts its operations through two operating segments: Drilling Services Segment and Production Services Segment. The Company’s Drilling Services Segment provides contract land drilling services to a group of oil and gas exploration and production companies through its six drilling divisions in the United States and in Colombia. The Company’s Production Services Segment provides a range of services to exploration and production companies including well servicing wireline services and coiled tubing services. The Company also provides coiled tubing and wireline services offshore in the Gulf of Mexico.

Pioneer Energy Services Corp

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