Seaport Global Upgrades Pioneer Energy Services Corp to Buy

Brokerage firm Seaport Global Upgrades its rating on Pioneer Energy Services Corp(NYSE:PES). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Seaport Global was issued on Sep 30, 2016.

In a different note, DA Davidson said it Initiates Coverage on Pioneer Energy Services Corp, according to a research note issued on Sep 15, 2016. The shares have been rated ‘Buy’ by the firm. 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.

Pioneer Energy Services Corp (PES) made into the market gainers list on Tuesdays trading session with the shares advancing 0.99% or 0.04 points. Due to strong positive momentum, the stock ended at $4.1, which is also near the day’s high of $4.15. The stock began the session at $4.09 and the volume stood at 9,00,923 shares. The 52-week high of the shares is $5.05 and the 52 week low is $0.9503. The company has a current market capitalization of $267 M and it has 6,50,71,906 shares in outstanding.

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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