$30.50 Million in Sales Expected for Petroquest Energy Inc (PQ) This Quarter

Wall Street brokerages forecast that Petroquest Energy Inc (NYSE:PQ) will announce $30.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Petroquest Energy’s earnings, with the lowest sales estimate coming in at $29.09 million and the highest estimate coming in at $31.90 million. Petroquest Energy posted sales of $16.43 million during the same quarter last year, which suggests a positive year over year growth rate of 85.6%. The firm is expected to report its next earnings results on Tuesday, March 6th.

On average, analysts expect that Petroquest Energy will report full-year sales of $30.50 million for the current financial year, with estimates ranging from $101.88 million to $104.60 million. For the next financial year, analysts expect that the business will report sales of $135.26 million per share, with estimates ranging from $130.51 million to $140.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Petroquest Energy.

Petroquest Energy (NYSE:PQ) last posted its quarterly earnings results on Wednesday, November 1st. The energy company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. The business had revenue of $28.20 million for the quarter, compared to the consensus estimate of $26.99 million. The company’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period last year, the firm earned ($1.31) earnings per share.

A number of research firms recently weighed in on PQ. Zacks Investment Research raised shares of Petroquest Energy from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Tuesday, October 3rd. Roth Capital set a $5.00 target price on shares of Petroquest Energy and gave the company a “buy” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.17.

Petroquest Energy (PQ) traded up $0.01 on Monday, hitting $1.82. 66,242 shares of the company were exchanged, compared to its average volume of 105,600. The company has a debt-to-equity ratio of -1.20, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $38.50, a P/E ratio of -1.82 and a beta of 1.92. Petroquest Energy has a twelve month low of $1.50 and a twelve month high of $4.75.

A number of large investors have recently modified their holdings of the business. Phoenix Investment Adviser LLC bought a new stake in Petroquest Energy in the third quarter valued at approximately $294,000. Divisar Capital Management LLC boosted its holdings in shares of Petroquest Energy by 10.9% in the second quarter. Divisar Capital Management LLC now owns 1,167,162 shares of the energy company’s stock valued at $2,311,000 after buying an additional 114,271 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Petroquest Energy by 6.6% in the second quarter. Vanguard Group Inc. now owns 646,446 shares of the energy company’s stock valued at $1,280,000 after buying an additional 40,059 shares during the period. Northern Trust Corp boosted its holdings in shares of Petroquest Energy by 2.9% in the second quarter. Northern Trust Corp now owns 56,221 shares of the energy company’s stock valued at $111,000 after buying an additional 1,598 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Petroquest Energy by 288.6% in the second quarter. Bank of New York Mellon Corp now owns 56,224 shares of the energy company’s stock valued at $111,000 after buying an additional 41,754 shares during the period. 38.04% of the stock is owned by hedge funds and other institutional investors.

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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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