Petroquest Energy Inc (PQ) Stock Rating Upgraded by Zacks Investment Research
Petroquest Energy Inc (NYSE:PQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $2.50 price target on the energy company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.74% from the stock’s previous close.
According to Zacks, “PetroQuest Energy, Inc. is an oil and gas exploration and production company primarily focused on growing its reserves and shareholder value through a combination of drilling development locations and high potential exploration prospects along and in the Gulf of Mexico. “
A number of other equities research analysts have also commented on PQ. Roth Capital set a $5.00 target price on Petroquest Energy and gave the company a “buy” rating in a research report on Monday, August 14th. Capital One Financial Corporation lowered Petroquest Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 21st. ValuEngine lowered Petroquest Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Seaport Global Securities lowered Petroquest Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $6.00 to $2.00 in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Petroquest Energy presently has a consensus rating of “Hold” and an average price target of $3.63.
Petroquest Energy (NYSE:PQ) opened at 2.16 on Tuesday. Petroquest Energy has a 52 week low of $1.66 and a 52 week high of $4.75. The company’s market cap is $45.92 million. The stock has a 50 day moving average of $2.02 and a 200 day moving average of $2.19.
Petroquest Energy (NYSE:PQ) last issued its earnings results on Wednesday, August 2nd. The energy company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.05. The firm had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $23.38 million. Petroquest Energy’s quarterly revenue was up 53.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.38) EPS. Equities research analysts predict that Petroquest Energy will post ($0.68) EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in PQ. Renaissance Technologies LLC boosted its position in Petroquest Energy by 4.6% in the 1st quarter. Renaissance Technologies LLC now owns 389,225 shares of the energy company’s stock worth $1,066,000 after purchasing an additional 17,036 shares in the last quarter. Divisar Capital Management LLC boosted its position in Petroquest Energy by 90.1% in the 1st quarter. Divisar Capital Management LLC now owns 1,052,891 shares of the energy company’s stock worth $2,885,000 after purchasing an additional 498,953 shares in the last quarter. Parkwood LLC boosted its position in Petroquest Energy by 143.3% in the 2nd quarter. Parkwood LLC now owns 405,584 shares of the energy company’s stock worth $803,000 after purchasing an additional 238,857 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Petroquest Energy by 288.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 56,224 shares of the energy company’s stock worth $111,000 after purchasing an additional 41,754 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Petroquest Energy by 3.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 1,101,609 shares of the energy company’s stock worth $2,181,000 after purchasing an additional 37,584 shares in the last quarter. Institutional investors and hedge funds own 37.48% of the company’s stock.
Petroquest Energy Company Profile
PetroQuest Energy, Inc is an oil and gas company. The Company is engaged in exploratory, development and acquisition activities. The Company has approximately 30 gross exploratory wells and over 30 gross development wells. The Company has reserves in various areas, including East Texas, Gulf Coast Basin and Oklahoma Woodford.
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