Petroquest Energy Inc (PQ) Releases Earnings Results, Beats Estimates By $0.02 EPS
Petroquest Energy Inc (NYSE:PQ) issued its earnings results on Wednesday. The energy company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02, Briefing.com reports. The business had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $26.99 million. The business’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period last year, the company posted ($1.31) earnings per share.
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A hedge fund recently raised its stake in Petroquest Energy stock. Northern Trust Corp increased its position in shares of Petroquest Energy Inc (NYSE:PQ) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,221 shares of the energy company’s stock after purchasing an additional 1,598 shares during the period. Northern Trust Corp owned 0.26% of Petroquest Energy worth $111,000 at the end of the most recent quarter. 37.02% of the stock is currently owned by institutional investors.
PQ has been the topic of a number of research reports. Roth Capital set a $5.00 price target on Petroquest Energy and gave the stock a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded Petroquest Energy from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded Petroquest Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Petroquest Energy has a consensus rating of “Hold” and an average price target of $3.17.
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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