Pioneer Energy Services Corp (PES) is Upgraded by Piper Jaffray to Neutral

Pioneer Energy Services Corp (PES) was Upgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Underweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on Pioneer Energy Services Corp. 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 closed down -0.59 points or -13.44% at $3.8 with 10,94,790 shares getting traded on Monday. Post opening the session at $4.33, the shares hit an intraday low of $3.72 and an intraday high of $4.3999 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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