Zacks Investment Research Downgrades Petroquest Energy (PQ) to Sell

Zacks Investment Research lowered shares of Petroquest Energy (NYSE:PQ) from a hold rating to a sell rating in a research report report published on Wednesday.

According to Zacks, “PetroQuest Energy, Inc. is an oil and gas exploration and production company primarily focused on growing its reserves and shareholder value through a combination of drilling development locations and high potential exploration prospects along and in the Gulf of Mexico. “

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Separately, B. Riley began coverage on Petroquest Energy in a research report on Monday, February 5th. They set a neutral rating and a $1.90 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $2.85.

PQ stock opened at $0.58 on Wednesday. Petroquest Energy has a twelve month low of $0.58 and a twelve month high of $2.96. The company has a debt-to-equity ratio of -1.24, a current ratio of 0.91 and a quick ratio of 0.91.

Petroquest Energy (NYSE:PQ) last released its earnings results on Monday, March 5th. The energy company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $35.10 million for the quarter, compared to analyst estimates of $31.78 million. During the same period last year, the business earned ($0.46) earnings per share. The firm’s quarterly revenue was up 114.0% compared to the same quarter last year. research analysts forecast that Petroquest Energy will post -0.31 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in Petroquest Energy by 2.9% during the second quarter. Northern Trust Corp now owns 56,221 shares of the energy company’s stock worth $111,000 after buying an additional 1,598 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Petroquest Energy by 16.8% during the fourth quarter. Renaissance Technologies LLC now owns 452,825 shares of the energy company’s stock valued at $856,000 after purchasing an additional 65,100 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Petroquest Energy by 6.6% during the second quarter. Vanguard Group Inc. now owns 646,446 shares of the energy company’s stock valued at $1,280,000 after purchasing an additional 40,059 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Petroquest Energy during the fourth quarter valued at approximately $4,234,000. 40.17% of the stock is currently owned by institutional investors and hedge funds.

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Petroquest Energy Company Profile

PetroQuest Energy, Inc operates as an independent oil and gas company. The company is involved in the acquisition, exploration, and development of oil and gas properties in Texas and the Gulf Coast Basin. As of December 31, 2016, it had estimated proved reserves of 1.4 thousand barrels of oil, 26.6 billion cubic feet equivalent of natural gas liquids, and 81 billion cubic feet of natural gas.

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