Seaport Global Downgrades Petroquest Energy Inc to Accumulate

Brokerage firm Seaport Global Downgrades its rating on Petroquest Energy Inc(NYSE:PQ). The shares have been rated Accumulate. Previously, the analysts had a Buy rating on the shares. The rating by Seaport Global was issued on Jun 7, 2016.

In a different note, On Mar 30, 2016, Seaport Global said it Upgrades its rating on Petroquest Energy Inc. The shares have been rated ‘Buy’ by the firm.

Petroquest Energy Inc (PQ) shares turned negative on Fridays trading session with the shares closing down -0.33 points or -9.88% at a volume of 98,018. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.32. The peak price level was also seen at $3.32 while the days lowest was $3. Finally the shares closed at $3.01. The 52-week high of the shares is $9.52 while the 52-week low is $1.24. According to the latest information available, the market cap of the company is $53 M.

Petroquest Energy Inc(PQ) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $17.32M. Analysts had an estimated revenue of $18.37M. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.16.

Several Insider Transactions has been reported to the SEC. On Aug 28, 2015, William W Iv Rucks (director) purchased 8,679 shares at $1.08 per share price.Also, 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.

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