Petroquest Energy Inc (PQ) Expected to Announce Quarterly Sales of $26.72 Million
Equities analysts expect Petroquest Energy Inc (NYSE:PQ) to post $26.72 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Petroquest Energy’s earnings, with the highest sales estimate coming in at $27.04 million and the lowest estimate coming in at $26.40 million. Petroquest Energy posted sales of $17.09 million in the same quarter last year, which suggests a positive year-over-year growth rate of 56.3%. The business is expected to report its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Petroquest Energy will report full-year sales of $26.72 million for the current year, with estimates ranging from $101.30 million to $102.06 million. For the next fiscal year, analysts forecast that the company will report sales of $136.17 million per share, with estimates ranging from $133.20 million to $139.14 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Petroquest Energy.
Petroquest Energy (NYSE:PQ) last issued its quarterly earnings data on Wednesday, August 2nd. The energy company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.05. The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $23.38 million. During the same quarter last year, the business posted ($1.38) earnings per share. Petroquest Energy’s revenue was up 53.3% on a year-over-year basis.
PQ has been the topic of several analyst reports. ValuEngine downgraded Petroquest Energy from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Seaport Global Securities downgraded Petroquest Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $2.00 in a report on Wednesday, June 21st. 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. Zacks Investment Research raised Petroquest Energy from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Capital One Financial Corporation downgraded Petroquest Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $3.88.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Divisar Capital Management LLC increased its position 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 worth $2,885,000 after buying an additional 498,953 shares during the last quarter. Parkwood LLC increased its position in shares of Petroquest Energy by 143.3% in the second quarter. Parkwood LLC now owns 405,584 shares of the energy company’s stock worth $803,000 after buying an additional 238,857 shares during the last quarter. Renaissance Technologies LLC increased its position 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 worth $1,232,000 after buying an additional 84,564 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Petroquest Energy during the fourth quarter worth about $237,000. Finally, Bank of New York Mellon Corp increased its position 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 buying an additional 41,754 shares during the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Petroquest Energy (NYSE PQ) opened at 1.74 on Friday. Petroquest Energy has a 12 month low of $1.66 and a 12 month high of $4.75. The stock’s 50 day moving average price is $1.95 and its 200 day moving average price is $2.69. The stock’s market capitalization is $36.99 million.
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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