Must cut the dividend to save it, cut better be next week, otherwise, down another $1.50 in a week
to the well head and bypass the middleman. This is the next great thing in energy mkts..
This has nothing to do with exports. This is all about selling gas to the electric utilities from the wellhead to lower the cost of electricity.
We will receive the upgrades after Q2 results..
Petroquest Energy (NYSE:PQ) had its price target upped by Stifel Nicolaus from $7.50 to $8.50 in a research note issued to investors on Monday. The firm currently has a buy rating on the stock.
Shares of Petroquest Energy (NYSE:PQ) traded up 1.73% on Monday, hitting $7.65. 616,869 shares of the company’s stock traded hands. Petroquest Energy has a 52-week low of $3.64 and a 52-week high of $7.82. The stock has a 50-day moving average of $6.41 and a 200-day moving average of $5.22. The company has a market cap of $504.8 million and a P/E ratio of 30.32.
Petroquest Energy (NYSE:PQ) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.05. The company had revenue of $59.97 million for the quarter, compared to the consensus estimate of $58.83 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 66.7% on a year-over-year basis. Analysts expect that Petroquest Energy will post $0.61 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PQ. Analysts at Global Hunter Securities raised their price target on shares of Petroquest Energy from $7.00 to $8.00 in a research note on Monday. They now have a buy rating on the stock. Separately, analysts at TheStreet upgraded shares of Petroquest Energy from a sell rating to a hold rating in a research note on Thursday, May 8th. Finally, analysts at Sterne Agee downgraded shares of Petroquest Energy from a buy rating to a neutral rating in a research note on Tuesday, May 6th. They now have a $7.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $7.32.
rak5555, look at the Yahoo earnings estimate, which is an average of all the analysts.
unless you work for PQ?
The well is now coded as a "31" - "shut-in dry hole - future utility" ... very puzzling to me. Any thoughts anybody?
2014, compared to only $.14 in 2013. There is not even a buyout bid yet in the share price..
So that helps explain why NextEra Energy is looking to partner with PetroQuest Energy (NYSE: PQ ) on 38 wells in Oklahoma. Right now the cost and impact would be tiny. NextEra will spend just under $70 million and invest another $120 million over the next 30 years. The benefit will be locking in access to natural gas "at cost." This, the company believes, will save NextEra Energy around $100 million in fuel costs over that span—a tiny fraction of its fuel costs.
PetroQuest Energy, meanwhile, gets a well-heeled financial backer to help it pay for its expansion efforts. But, more importantly, this could be just the beginning. Eric Silagy, the CEO of NextEra Energy's FPL subsidiary noted that, "This investment in natural gas production is an important component for delivering lower, more stable natural gas prices for our customers, and we anticipate identifying additional investment opportunities, thereby benefiting our customers even more over the long term."
If NextEra Energy and PetroQuest expanded this relationship it could go a long way to help PetroQuest build out its 35,000 acres of gas land. That's doubly true since it's picking up the pace of drilling, with 2014 marking its most active drilling year ever in the region in which the pair have partnered.
You sold early sport..
I think this is why NextEra Energy invested in this company. NextEra is the third largest electric utility in the the USA. Earnings will definitely top $.63 this year.
PetroQuest PQ has est '14 earnings of $.64, $271 MM sales, $.4B mkt cap, Parsley Energy (PE) has est '14 earnings of $.40, $331 mm sales, $2.6B mkt cap. What is wrong with this picture? When will wall street figure this out and normalize the values? Parsley doesn't even do horizontal drilling yet!
Compared to $226 million in revenue and a $.4 billion mkt cap for PQ. Just that huge cap needs to be equalized.
$.65 earnings for a $7 stock is really a great defensive position for a stock market that is unstable. The analysts should all move their earnings projections strongly higher for 2015 after August 4th. Listen to Q1's CC to hear why..