S&P Downgrades PetroQuest Energy (PQ) to 'CC'; Outlook Negative
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UPDATE: Seaport Global Securities Upgrades PetroQuest (PQ) to Buy Following Proposed Exchange Offer
August 26, 2016 8:43 AM EDT(Updated - August 26, 2016 9:35 AM EDT)
Seaport Global Securities upgraded PetroQuest (NYSE: PQ) from Accumulate to Buy with a price target of $5. Analyst Mike Kelly characterized its proposed debt swap as a "new lease on life."
"PQ's proposed exchange offer covering its entire $280.3MM of outstanding debt is a point of inflection transaction that has a very high likelihood of coming to fruition given current bondholder support, in our opinion," said Kelly. "We are upgrading PQ to Buy from Accumulate as we now believe near-term balance sheet concerns have... More
PetroQuest Energy (PQ) Set to Open Higher After Announces Private Exchange Offers and $50M Commitment for Term Loan Facility
August 26, 2016 7:52 AM EDTPetroQuest Energy (NYSE: PQ) shares were poised to open higher Friday morning after the company announced private exchange offers and consent solicitation, along with entry into a commitment letter for a four year $50 million term loan facility. The stock was also upgraded a Johnson Rice.
Press release:
PetroQuest Energy, Inc. (NYSE: PQ) announced today that it is commencing private... More
Johnson Rice Upgrades PetroQuest (PQ) to Buy
August 26, 2016 6:55 AM EDTJohnson Rice upgraded PetroQuest (NYSE: PQ) from Accumulate to Buy.
For an analyst ratings summary and ratings history on PetroQuest click here. For more ratings news on PetroQuest click here.
Shares of PetroQuest closed at $1.76 yesterday.
... More