Zacks Investment Research downgraded shares of Dawson Geophysical (NASDAQ:DWSN) from a buy rating to a hold rating in a research report released on Tuesday, January 2nd.
According to Zacks, “Dawson Geophysical Company offers onshore seismic data acquisition services primarily in the United States and Canada. The company acquires and processes 2-D, 3-D and multi-component seismic data for oil and gas companies. Dawson Operating Company, formerly known as Dawson Geophysical Company, is headquartered in Midland, Texas. “
Dawson Geophysical (DWSN) opened at $6.14 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.01 and a quick ratio of 4.01. Dawson Geophysical has a 1-year low of $3.70 and a 1-year high of $8.55.
A number of hedge funds have recently made changes to their positions in DWSN. Dimensional Fund Advisors LP raised its position in shares of Dawson Geophysical by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,490,953 shares of the oil and gas company’s stock valued at $5,845,000 after purchasing an additional 57,167 shares during the period. Ameriprise Financial Inc. increased its position in Dawson Geophysical by 70.0% during the second quarter. Ameriprise Financial Inc. now owns 706,073 shares of the oil and gas company’s stock worth $2,768,000 after acquiring an additional 290,762 shares during the period. Moors & Cabot Inc. increased its position in Dawson Geophysical by 10.5% during the second quarter. Moors & Cabot Inc. now owns 81,442 shares of the oil and gas company’s stock worth $323,000 after acquiring an additional 7,750 shares during the period. Quantum Capital Management bought a new position in Dawson Geophysical during the third quarter worth about $340,000. Finally, Goldman Sachs Group Inc. increased its position in Dawson Geophysical by 261.5% during the second quarter. Goldman Sachs Group Inc. now owns 52,217 shares of the oil and gas company’s stock worth $205,000 after acquiring an additional 37,771 shares during the period. Hedge funds and other institutional investors own 63.68% of the company’s stock.
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About Dawson Geophysical
Dawson Geophysical Company, formerly TGC Industries, Inc, is a provider of onshore seismic data acquisition and processing services with operations throughout the United States and Canada. The Company acquires and processes two-dimensional (2-D), three-dimensional (3-D) and multi-component seismic data for its clients, ranging from oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries.
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