Piper Jaffray Upgrades Pioneer Energy Services Corp to Overweight

Brokerage firm Piper Jaffray Upgrades its rating on Pioneer Energy Services Corp(NYSE:PES). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by Piper Jaffray was issued on Jun 29, 2016.

In a different note, On May 2, 2016, Wunderlich said it Maintains its rating on Pioneer Energy Services Corp. In the research note, the firm Raises the price-target to $2.00 per share. The shares have been rated ‘Hold’ by the firm.

Pioneer Energy Services Corp (PES) made into the market gainers list on Fridays trading session with the shares advancing 4.35% or 0.2 points. Due to strong positive momentum, the stock ended at $4.8, which is also near the day’s high of $4.85. The stock began the session at $4.53 and the volume stood at 8,36,024 shares. The 52-week high of the shares is $6.36 and the 52 week low is $0.9503. The company has a current market capitalization of $310 M and it has 6,46,84,509 shares in outstanding.

Pioneer Energy Services Corp(PES) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $74.95M. Analysts had an estimated revenue of $80.57M. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.33.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, C John Thompson (director) sold 8,995 shares at $4.15 per share price.Also, 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.

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