PetroQuest Energy Inc. (NYSE:PQ) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 232,946 shares, a drop of 58.3% from the August 31st total of 558,456 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 282,286 shares, the short-interest ratio is currently 0.8 days.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of PetroQuest Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Stifel Nicolaus restated a “hold” rating on shares of PetroQuest Energy in a research note on Wednesday, August 31st. Seaport Global Securities upgraded shares of PetroQuest Energy from an “accumulate” rating to a “buy” rating and raised their target price for the company from $4.00 to $5.00 in a research note on Friday, August 26th. Roth Capital restated a “buy” rating on shares of PetroQuest Energy in a research note on Tuesday, July 12th. Finally, Johnson Rice upgraded shares of PetroQuest Energy from an “accumulate” rating to a “buy” rating in a research note on Friday, August 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. PetroQuest Energy has an average rating of “Hold” and a consensus price target of $4.59.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PetroQuest Energy during the second quarter valued at about $376,000. Spark Investment Management LLC acquired a new stake in PetroQuest Energy during the first quarter valued at approximately $162,000. Renaissance Technologies LLC increased its stake in PetroQuest Energy by 1.7% in the first quarter. Renaissance Technologies LLC now owns 629,654 shares of the energy company’s stock valued at $382,000 after buying an additional 10,595 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in PetroQuest Energy during the first quarter valued at approximately $1,208,000. Institutional investors and hedge funds own 36.01% of the company’s stock.
PetroQuest Energy (NYSE:PQ) opened at 3.66 on Friday. The stock’s market cap is $64.51 million. The firm has a 50 day moving average of $2.94 and a 200-day moving average of $2.86. PetroQuest Energy has a 12-month low of $1.24 and a 12-month high of $6.04.
PetroQuest Energy (NYSE:PQ) last issued its earnings results on Monday, August 1st. The energy company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by $0.91. The firm had revenue of $15.80 million for the quarter, compared to analyst estimates of $15.72 million. During the same period last year, the firm posted ($0.94) EPS. The company’s quarterly revenue was down 51.5% on a year-over-year basis. On average, analysts expect that PetroQuest Energy will post ($1.67) earnings per share for the current year.
About PetroQuest Energy
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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