Capital One Southcoast Downgrades PetroQuest (PQ) to Neutral
More News related to PQ
- PetroQuest (PQ) POsts Q3 EPS of $0.07, Misses by 11c
- PetroQuest Energy, Inc. Invites You to Join Its Third Quarter Earnings Conference Call
- PetroQuest Energy Announces Third Quarter 2009 Results
- Trading Radar for 11/03: UBS (UBS), Yamana Gold (AUY), Archer-Daniels (ADM), Royal Caribbean (RCL), Marathon (MRO) Report
- Capital One Southcoast Upgrades Energy Stocks CRZO, PQ, SGY & UPL After 4th Annual Energy Conference
More News related to Downgrades
- Wunderlich Securities Downgrades Gran Tierra Energy (GTE) to Hold
- Stephens Downgrades Benihana (BNHN) to Equalweight
- UBS Downgrades NRG Energy (NRG) to Neutral; Cuts Target to $26
- Citi Cuts Lukoil (LUKOY) to Hold
Capital One Southcoast downgrades PetroQuest (NYSE: PQ) from Add to Neutral. Price target $8.
Capital analyst says, "We are increasing our target price by $1 to $8 based on better Woodford economics but lowering our rating to NEUTRAL based on valuation. We are increasing our estimate for new Woodford wells to ~4.3 Bcfe from 4.0 Bcfe, resulting in a $1 increase in our NAV...Shares have had a huge run: PQ shares are up 61% over the past month and +1,200% since the March low. At this point, we recommend that investors take some profits off the table. Of all our covered E&P companies, PQ is one of the most levered to changing natural gas prices. We currently use $6.50 long-term natural gas prices. At $7.00 long-term gas, our $8 NAV would increase to $11."
To see more analyst ratings on PQ Click Here.
PetroQuest Energy, Inc. operates as an independent oil and gas company.
Related Categories
DowngradesStocks Mentioned
+0.16Related Entities
Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
PQ
Chuck on Oct 15, 2009 12:30 PMDue to the financial stability of PQ and the snap cold temperature in the Northeast I would strongly disagree with Capital One Southcoast downgrade of PQ.Why risk taking a 4 dollars off the table unless you are a broker looking to sell the stock you recomend only to recomend buying it later when the prices increases resulting in the broker making more money.Keep buying or let the stock sit and sell at 15