Presidio Production (NYSE:FTW) Stock Keeps “Buy” Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Presidio Production (NYSE:FTW) in a research note released on Friday morning,Benzinga reports. BTIG Research currently has a $15.00 price target on the stock.

Other equities analysts have also issued reports about the company. Weiss Ratings lowered Presidio Production from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, October 9th. Stephens assumed coverage on Presidio Production in a research report on Thursday, October 8th. They issued an “overweight” rating and a $15.00 price objective for the company. Finally, Wall Street Zen upgraded Presidio Production from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Presidio Production Stock Performance

Shares of NYSE:FTW traded up $0.26 on Friday, hitting $10.48. 132,092 shares of the company were exchanged, compared to its average volume of 51,296. The company’s 50 day moving average price is $10.13 and its two-hundred day moving average price is $11.09. Presidio Production has a one year low of $9.46 and a one year high of $17.20.

Presidio Production (NYSE:FTW) last released its earnings results on Friday, November 13th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($1.90). The company had revenue of $57.33 million for the quarter. Equities research analysts anticipate that Presidio Production will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Presidio Production

A number of hedge funds have recently made changes to their positions in FTW. Marshall Wace LLP acquired a new stake in shares of Presidio Production during the 3rd quarter valued at about $820,000. Empowered Funds LLC bought a new stake in Presidio Production in the third quarter valued at about $222,000. LuminArx Capital Management LP increased its stake in Presidio Production by 0.7% in the third quarter. LuminArx Capital Management LP now owns 272,016 shares of the company’s stock valued at $2,709,000 after acquiring an additional 1,918 shares during the period. Finally, State Street Corp increased its stake in Presidio Production by 21.6% in the third quarter. State Street Corp now owns 64,300 shares of the company’s stock valued at $640,000 after acquiring an additional 11,400 shares during the period.

About Presidio Production

Presidio Production Company is an independent oil and natural gas exploration and production company. Its activities include acquiring, developing and producing oil and gas properties. The company’s operations are focused on the Permian Basin, spanning West Texas and southeastern New Mexico. Presidio is based in Fort Worth, Texas.