DA Davidson Initiates Coverage on Pioneer Energy Services Corp to Buy

DA Davidson Initiates Coverage on Pioneer Energy Services Corp(NYSE:PES). The shares have been rated Buy. The rating by DA Davidson was issued on Sep 15, 2016.

In a different note, On Sep 2, 2016, Jefferies said it Upgrades its rating on Pioneer Energy Services Corp. The shares have been rated ‘Buy’ by the firm. On Aug 1, 2016, Deutsche Bank said it Maintains its rating on Pioneer Energy Services Corp. In the research note, the firm Lowers the price-target to $4.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 18, 2016, Wells Fargo said it Upgrades its rating on Pioneer Energy Services Corp. The shares have been rated ‘Outperform’ by the firm. On Jul 11, 2016, Jefferies said it Maintains its rating on Pioneer Energy Services Corp. In the research note, the firm Raises the price-target to $3.50 per share. The shares have been rated ‘Hold’ by the firm. On Jun 29, 2016, Piper Jaffray said it Upgrades its rating on Pioneer Energy Services Corp. The shares have been rated ‘Overweight’ by the firm. On Jun 29, 2016, Simmons & Co. said it Upgrades its rating on Pioneer Energy Services Corp. The shares have been rated ‘Overweight’ by the firm.

Pioneer Energy Services Corp (PES) shares turned negative on Tuesdays trading session with the shares closing down -0.2 points or -5.88% at a volume of 9,97,063. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.38. The peak price level was also seen at $3.38 while the days lowest was $3.12. Finally the shares closed at $3.2. The 52-week high of the shares is $5.05 while the 52-week low is $0.9503. According to the latest information available, the market cap of the company is $208 M.

Pioneer Energy Services Corp(PES) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $62.29M. Analysts had an estimated revenue of $65.75M. Earnings per share were $-0.31. Analysts had estimated an EPS of $-0.32.

Several Insider Transactions has been reported to the SEC. On Aug 9, 2016, C John Thompson (director) sold 3,000 shares at $3.45 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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