Zacks Investment Research upgraded shares of Petroleum Geo-Services ASA (OTCMKTS:PGSVY) from a sell rating to a hold rating in a report published on Friday morning.

According to Zacks, “Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units and owns a small oil and gas company. PGS operates on a worldwide basis with headquarters at Lysaker, Norway. “

Shares of Petroleum Geo-Services ASA (OTCMKTS:PGSVY) opened at 2.80 on Friday. Petroleum Geo-Services ASA has a 52 week low of $1.80 and a 52 week high of $4.68.

Petroleum Geo-Services ASA (OTCMKTS:PGSVY) last announced its quarterly earnings results on Thursday, October 27th. The company reported ($0.12) earnings per share (EPS) for the quarter. Petroleum Geo-Services ASA had a negative net margin of 56.28% and a negative return on equity of 20.51%. Equities analysts forecast that Petroleum Geo-Services ASA will post ($0.58) earnings per share for the current year.

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Petroleum Geo-Services ASA Company Profile

Petroleum Geo-Services ASA (PGS) is a marine geophysical company. The Company provides a range of seismic and reservoir services, including acquisition, imaging, interpretation and field evaluation. Its segments are Marine Contract and MultiClient. The service lines within the Marine segment include Marine Contract, MultiClient pre-funding, MultiClient late sales, Imaging and Other.

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