Petroquest Energy Inc (NYSE:PQ) Expected to Post Quarterly Sales of $23.18 Million
Analysts forecast that Petroquest Energy Inc (NYSE:PQ) will report $23.18 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Petroquest Energy’s earnings. The highest sales estimate is $23.50 million and the lowest is $22.86 million. Petroquest Energy posted sales of $15.82 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 46.5%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Petroquest Energy will report full-year sales of $23.18 million for the current fiscal year, with estimates ranging from $103.00 million to $106.52 million. For the next financial year, analysts expect that the company will post sales of $142.41 million per share, with estimates ranging from $133.20 million to $151.61 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Petroquest Energy.
Petroquest Energy (NYSE:PQ) last released its quarterly earnings results on Wednesday, May 3rd. The energy company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.06. The firm had revenue of $20.77 million for the quarter, compared to the consensus estimate of $19.92 million.
A number of brokerages have recently issued reports on PQ. ValuEngine upgraded Petroquest Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded Petroquest Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Capital One Financial Corporation downgraded Petroquest Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 21st. Seaport Global Securities downgraded Petroquest Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $6.00 to $2.00 in a report on Wednesday, June 21st. Finally, Roth Capital set a $7.00 price target on Petroquest Energy and gave the company a “buy” rating in a report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Petroquest Energy presently has an average rating of “Hold” and a consensus price target of $4.38.
Petroquest Energy (NYSE:PQ) traded down 0.93% during midday trading on Wednesday, hitting $2.14. The company had a trading volume of 37,059 shares. Petroquest Energy has a 52 week low of $1.66 and a 52 week high of $4.75. The company’s market capitalization is $45.41 million. The stock has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.87.
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In other news, Director Joseph Gerard Jolly acquired 20,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was bought at an average cost of $2.28 per share, for a total transaction of $45,600.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 9.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PQ. Macquarie Group Ltd. acquired a new position in Petroquest Energy during the fourth quarter worth approximately $237,000. Renaissance Technologies LLC increased its stake in shares of Petroquest Energy by 29.4% in the fourth quarter. Renaissance Technologies LLC now owns 372,189 shares of the energy company’s stock valued at $1,232,000 after buying an additional 84,564 shares during the period. Parkwood LLC increased its stake in shares of Petroquest Energy by 3,428.6% in the first quarter. Parkwood LLC now owns 166,727 shares of the energy company’s stock valued at $457,000 after buying an additional 162,002 shares during the period. Divisar Capital Management LLC increased its stake in shares of Petroquest Energy by 90.1% in the first quarter. Divisar Capital Management LLC now owns 1,052,891 shares of the energy company’s stock valued at $2,885,000 after buying an additional 498,953 shares during the period. Finally, Phoenix Investment Adviser LLC increased its stake in shares of Petroquest Energy by 1.6% in the first quarter. Phoenix Investment Adviser LLC now owns 83,965 shares of the energy company’s stock valued at $230,000 after buying an additional 1,346 shares during the period. Institutional investors and hedge funds own 40.34% of the company’s stock.
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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