Petroquest Energy Inc (PQ) is Downgraded by Seaport Global Securities to Accumulate

Petroquest Energy Inc (PQ) was Downgraded by Seaport Global Securities to ” Accumulate”. Earlier the firm had a rating of “Buy ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jun 7, 2016.

On the company’s financial health, Petroquest Energy Inc reported $-0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.44 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.14. The company had revenue of $17.30 million for the quarter, compared to analysts expectations of $19.21 million. The company’s revenue was down -48.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-1.89 EPS.

Petroquest Energy Inc opened for trading at $2.97 and hit $3.6 on the upside on Friday, eventually ending the session at $3.23, with a gain of 9.12% or 0.27 points. The heightened volatility saw the trading volume jump to 3,18,670 shares. Company has a market cap of $57 M.

In a different news, on Aug 28, 2015, William W Iv Rucks (director) purchased 8,679 shares at $1.08 per share price. According to the SEC, on Jul 10, 2015, Charles T Goodson (Chairman, CEO and President) sold 12,000 shares at $1.77 per share price.

PetroQuest Energy Inc. is an independent energy company engaged in the exploration development acquisition and production of oil and natural gas reserves in East Texas Arkoma Basin South Louisiana and the shallow waters of the Gulf of Mexico. The Company is focused in the Gulf Coast Basin with onshore properties principally in southern Louisiana and offshore properties in the shallow waters of the Gulf of Mexico shelf. As of December 31 2013 the Company has 95% drilling success rate on 918 gross wells drilled. The Company’s projects are focused on Oklahoma – Woodford East Texas and Gulf Coast Basin. Its Oklahoma – Woodford has drilled and participated in 25 gross wells. Its East Texas properties have approximately 2000 net acres. The Gulf Coast Basin has five gross wells with a production of 39.1 MMcfe per day.

Petroquest Energy Inc

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