Pioneer Energy Services Corp (PES) Releases Earnings Results, Beats Expectations By $0.01 EPS

Pioneer Energy Services Corp (PES) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.32. The company posted revenue of $62.30 million in the period, compared to analysts expectations of $65.93 million. The company’s revenue was down -53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.

Many Wall Street Analysts have commented on Pioneer Energy Services Corp. Pioneer Energy Services Corp was Upgraded by Wells Fargo to ” Outperform” on Jul 18, 2016. 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 .

Pioneer Energy Services Corp closed down -0.43 points or -12.11% at $3.12 with 25,15,963 shares getting traded on Thursday. Post opening the session at $3.43, the shares hit an intraday low of $3.06 and an intraday high of $3.49 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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