Zacks Investment Research upgraded shares of Petroquest Energy Inc (NYSE:PQ) from a sell rating to a hold rating in a research note released on Thursday.

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. “

Several other research analysts have also recently issued reports on PQ. Roth Capital set a $5.00 price objective on Petroquest Energy and gave the stock a buy rating in a research report on Monday, August 14th. Capital One Financial Corporation cut Petroquest Energy from an overweight rating to an equal weight rating in a research report on Wednesday, June 21st. ValuEngine raised Petroquest Energy from a strong sell rating to a sell rating in a research report on Thursday, July 6th. Finally, Seaport Global Securities cut Petroquest Energy from a buy rating to a neutral rating and lowered their price objective for the stock from $6.00 to $2.00 in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $3.88.

Shares of Petroquest Energy (NYSE:PQ) opened at 1.86 on Thursday. The stock’s market capitalization is $39.54 million. The firm has a 50-day moving average price of $1.94 and a 200-day moving average price of $2.60. Petroquest Energy has a 1-year low of $1.66 and a 1-year high of $4.75.

Petroquest Energy (NYSE:PQ) last released its quarterly earnings data on Wednesday, August 2nd. The energy company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. The business had revenue of $24.25 million for the quarter, compared to analyst estimates of $23.38 million. The company’s revenue was up 53.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.38) earnings per share. On average, equities research analysts forecast that Petroquest Energy will post ($0.66) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in PQ. Phoenix Investment Adviser LLC boosted its stake in shares of Petroquest Energy by 1.6% in the first quarter. Phoenix Investment Adviser LLC now owns 83,965 shares of the energy company’s stock worth $230,000 after buying an additional 1,346 shares during the period. Northern Trust Corp boosted its stake in shares of Petroquest Energy by 2.9% in 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 during the period. Renaissance Technologies LLC boosted its stake in shares of Petroquest Energy by 4.6% in the first quarter. Renaissance Technologies LLC now owns 389,225 shares of the energy company’s stock worth $1,066,000 after buying an additional 17,036 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Petroquest Energy by 3.5% in the second quarter. Oppenheimer & Co. Inc. now owns 1,101,609 shares of the energy company’s stock worth $2,181,000 after buying an additional 37,584 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Petroquest Energy by 6.6% in the second quarter. Vanguard Group Inc. now owns 646,446 shares of the energy company’s stock worth $1,280,000 after buying an additional 40,059 shares during the period. 41.18% of the stock is owned by hedge funds and other institutional investors.

Petroquest Energy Company Profile

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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Analyst Recommendations for Petroquest Energy (NYSE:PQ)

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