Petroquest Energy (NYSE:PQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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 also recently issued reports on the company. Roth Capital downgraded Petroquest Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $1.75 in a research report on Monday, April 9th. B. Riley began coverage on Petroquest Energy in a research report on Monday, February 5th. They set a “neutral” rating and a $1.90 price target on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $2.04.
NYSE:PQ traded down $0.02 during trading hours on Wednesday, reaching $0.49. 158,063 shares of the company were exchanged, compared to its average volume of 249,361. The company has a market capitalization of $12.89, a P/E ratio of -0.89 and a beta of 2.21. Petroquest Energy has a 1-year low of $0.47 and a 1-year high of $2.71. The company has a debt-to-equity ratio of -1.24, a current ratio of 0.91 and a quick ratio of 0.91.
Petroquest Energy (NYSE:PQ) last issued its quarterly earnings results on Monday, March 5th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.02). The company had revenue of $35.10 million for the quarter, compared to analyst estimates of $31.78 million. The company’s quarterly revenue was up 114.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.46) EPS. sell-side analysts anticipate that Petroquest Energy will post -0.48 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its holdings in shares of Petroquest Energy by 2.9% in the 2nd quarter. Northern Trust Corp now owns 56,221 shares of the energy company’s stock valued at $111,000 after purchasing an additional 1,598 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Petroquest Energy by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 646,446 shares of the energy company’s stock valued at $1,280,000 after purchasing an additional 40,059 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Petroquest Energy by 16.8% in the 4th quarter. Renaissance Technologies LLC now owns 452,825 shares of the energy company’s stock valued at $856,000 after purchasing an additional 65,100 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Petroquest Energy in the 4th quarter valued at $4,234,000. 40.17% of the stock is currently owned by hedge funds and other institutional investors.
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About Petroquest Energy
PetroQuest Energy, Inc engages in the development and exploration of oil and gas properties. Its projects include Arkoma Basin, Wyoming, Texas, and South Louisiana. The company was founded in 1985 and is headquartered in Lafayette, LA.
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