Zacks: Brokerages Anticipate Petroquest Energy Inc (PQ) Will Announce Quarterly Sales of $31.91 Million

Analysts expect that Petroquest Energy Inc (NYSE:PQ) will report sales of $31.91 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Petroquest Energy’s earnings. The lowest sales estimate is $30.80 million and the highest is $33.34 million. Petroquest Energy posted sales of $16.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 94.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, March 6th.

On average, analysts expect that Petroquest Energy will report full year sales of $31.91 million for the current financial year, with estimates ranging from $103.50 million to $106.55 million. For the next year, analysts forecast that the company will post sales of $130.76 million per share, with estimates ranging from $114.20 million to $139.69 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Petroquest Energy.

A number of research analysts have commented on PQ shares. Roth Capital set a $5.00 price target on shares of Petroquest Energy and gave the company a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Petroquest Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, B. Riley started coverage on shares of Petroquest Energy in a research report on Monday, February 5th. They set a “neutral” rating and a $1.90 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $2.85.

Several institutional investors have recently modified their holdings of PQ. Bank of New York Mellon Corp grew 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 worth $111,000 after purchasing an additional 41,754 shares during the last quarter. Northern Trust Corp grew 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 worth $111,000 after purchasing an additional 1,598 shares during the last quarter. Phoenix Investment Adviser LLC bought a new position in shares of Petroquest Energy in the third quarter worth approximately $294,000. Finally, Vanguard Group Inc. grew 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 worth $1,280,000 after purchasing an additional 40,059 shares during the last quarter. Hedge funds and other institutional investors own 37.49% of the company’s stock.

Petroquest Energy (NYSE PQ) opened at $1.44 on Friday. Petroquest Energy has a 52-week low of $1.39 and a 52-week high of $4.75. 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 cap of $30.63, a P/E ratio of -1.45 and a beta of 1.80.

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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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Earnings History and Estimates for Petroquest Energy (NYSE:PQ)

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