Dawson Geophysical (NASDAQ:DWSN) Cut to “Hold” at Zacks Investment Research

Dawson Geophysical (NASDAQ:DWSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, March 15th.

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. “

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Separately, ValuEngine upgraded shares of Dawson Geophysical from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 9th.

Dawson Geophysical stock traded down $0.04 during midday trading on Thursday, reaching $6.27. 28,169 shares of the company’s stock were exchanged, compared to its average volume of 52,813. Dawson Geophysical has a 52 week low of $3.70 and a 52 week high of $7.12. The stock has a market capitalization of $137.51, a P/E ratio of -4.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.33 and a current ratio of 4.33.

Dawson Geophysical (NASDAQ:DWSN) last released its quarterly earnings results on Thursday, March 1st. The oil and gas company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.07. Dawson Geophysical had a negative net margin of 19.90% and a negative return on equity of 20.97%. The company had revenue of $39.13 million during the quarter, compared to the consensus estimate of $35.53 million. research analysts forecast that Dawson Geophysical will post -0.53 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of DWSN. Tower Research Capital LLC TRC boosted its position in Dawson Geophysical by 606.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 24,104 shares of the oil and gas company’s stock valued at $120,000 after acquiring an additional 20,692 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Dawson Geophysical during the fourth quarter valued at about $163,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $205,000 after purchasing an additional 37,771 shares during the period. Quantum Capital Management acquired a new position in shares of Dawson Geophysical during the third quarter valued at about $340,000. Finally, Van Den Berg Management I Inc. raised its holdings in shares of Dawson Geophysical by 24.0% during the fourth quarter. Van Den Berg Management I Inc. now owns 1,002,729 shares of the oil and gas company’s stock valued at $4,984,000 after purchasing an additional 194,298 shares during the period. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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About Dawson Geophysical

Dawson Geophysical Company provides onshore seismic data acquisition services in the continental United States and Canada. The company acquires and processes 2-D, 3-D, and multi-component seismic data for its clients, including oil and gas companies, and independent oil and gas operators, as well as providers of multi-client data libraries.

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