$26.13 Million in Sales Expected for Petroquest Energy Inc (PQ) This Quarter
Equities analysts expect Petroquest Energy Inc (NYSE:PQ) to report sales of $26.13 million for the current quarter, Zacks reports. Two analysts have made estimates for Petroquest Energy’s earnings, with estimates ranging from $25.85 million to $26.40 million. Petroquest Energy posted sales of $17.09 million during the same quarter last year, which suggests a positive year-over-year growth rate of 52.9%. The firm is scheduled to issue its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that Petroquest Energy will report full-year sales of $26.13 million for the current fiscal year, with estimates ranging from $100.45 million to $101.30 million. For the next fiscal year, analysts forecast that the company will post sales of $132.98 million per share, with estimates ranging from $132.75 million to $133.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Petroquest Energy.
Petroquest Energy (NYSE:PQ) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $23.38 million. During the same period in the prior year, the business earned ($1.38) EPS. The business’s revenue for the quarter was up 53.3% compared to the same quarter last year.
A number of equities analysts have recently issued reports on PQ shares. Roth Capital set a $5.00 price objective on shares of Petroquest Energy and gave the stock a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of Petroquest Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. ValuEngine cut shares of Petroquest Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Capital One Financial Corporation cut shares of Petroquest Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 21st. Finally, Seaport Global Securities cut shares of Petroquest Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $6.00 to $2.00 in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $3.63.
Shares of Petroquest Energy (PQ) opened at 2.08 on Friday. Petroquest Energy has a 1-year low of $1.66 and a 1-year high of $4.75. The firm has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.18. The firm’s market cap is $44.21 million.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in 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 acquiring an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Petroquest Energy by 288.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 56,224 shares of the energy company’s stock valued at $111,000 after acquiring an additional 41,754 shares in the last quarter. Parkwood LLC lifted its position in Petroquest Energy by 143.3% in the 2nd quarter. Parkwood LLC now owns 405,584 shares of the energy company’s stock valued at $803,000 after acquiring an additional 238,857 shares in the last quarter. Renaissance Technologies LLC lifted its position in Petroquest Energy by 4.6% in the 1st quarter. Renaissance Technologies LLC now owns 389,225 shares of the energy company’s stock valued at $1,066,000 after acquiring an additional 17,036 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in 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 acquiring an additional 40,059 shares in the last quarter. 37.48% of the stock is currently owned by institutional investors and hedge funds.
Petroquest Energy Company Profile
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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