Q3 2016 Earnings Forecast for PetroQuest Energy Inc. Issued By Capital One Financial Corp. (PQ)
PetroQuest Energy Inc. (NYSE:PQ) – Equities researchers at Capital One Financial Corp. cut their Q3 2016 earnings per share (EPS) estimates for shares of PetroQuest Energy in a report released on Monday. Capital One Financial Corp. analyst R. Tullis now anticipates that the firm will post earnings of ($0.23) per share for the quarter, down from their previous forecast of ($0.22). Capital One Financial Corp. currently has a “Overweight” rating and a $5.00 price target on the stock. Capital One Financial Corp. also issued estimates for PetroQuest Energy’s Q4 2016 earnings at ($0.23) EPS and FY2017 earnings at ($0.20) EPS.
A number of other equities analysts also recently issued reports on PQ. Zacks Investment Research downgraded PetroQuest Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Johnson Rice raised PetroQuest Energy from an “accumulate” rating to a “buy” rating in a research note on Friday, August 26th. Roth Capital reissued a “buy” rating on shares of PetroQuest Energy in a research note on Tuesday, July 12th. Stifel Nicolaus reissued a “hold” rating on shares of PetroQuest Energy in a research note on Wednesday, August 31st. Finally, Seaport Global Securities raised PetroQuest Energy from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $4.00 to $5.00 in a research note on Friday, August 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. PetroQuest Energy has a consensus rating of “Hold” and an average target price of $4.67.
Shares of PetroQuest Energy (NYSE:PQ) remained flat at $4.01 during trading on Wednesday. 71,752 shares of the stock traded hands. The firm has a 50-day moving average price of $3.07 and a 200 day moving average price of $2.89. The company’s market capitalization is $70.68 million. PetroQuest Energy has a 52 week low of $1.24 and a 52 week high of $5.64.
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PetroQuest Energy (NYSE:PQ) last issued its quarterly earnings data on Monday, August 1st. The energy company reported ($1.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.91. The firm had revenue of $15.80 million for the quarter, compared to the consensus estimate of $15.72 million. PetroQuest Energy’s revenue for the quarter was down 51.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.94) earnings per share.
A number of hedge funds have recently modified their holdings of PQ. Franklin Resources Inc. purchased a new position in PetroQuest Energy during the first quarter valued at $1,208,000. Renaissance Technologies LLC boosted its position 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 in the last quarter. Spark Investment Management LLC purchased a new position in PetroQuest Energy during the first quarter valued at $162,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in PetroQuest Energy during the second quarter valued at $376,000. 36.01% of the stock is currently owned by institutional investors.
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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