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UPDATE: Global Hunter Securities Upgrades PetroQuest Energy to Buy on Risk/Reward

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PetroQuest Energy Gross Daily Rate of Approximately 28,000 Mcf of gas, 900 Bbls of Oil and 1,200 Bbls of natural gas liquidsO
PetroQuest Energy Announces Initial Production From Thunder Bayou

Global Hunter Securities raised its rating on PetroQuest Energy (NYSE: PQ) from Accumulate to Buy while reducing its price target from $8 to $7.

Global Hunter Securities commented, ": Despite reducing our price target to $7 (from $8), we are upgrading our rating on shares of PetroQuest (PQ) to Buy from Accumulate, reflective of what we believe to be an attractive risk/reward proposition after yesterday's precipitous downward move. While PQ's management increased planned 2012 capex by $20MM to a range of $130MM to $135MM, it did so to reflect an asset sale that is unlikely to close by year end, not in order to spend more money in Q4:12. Our capex estimate has been in the $146MM range."

PetroQuest Energy closed at $5.03 on Wednesday.

Latest Ratings for PQ

DateFirmActionFromTo
Jun 2015Raymond JamesUpgradesMarket PerformOutperform
Dec 2014Stifel NicolausInitiates Coverage onHold
Dec 2014Imperial CapitalMaintainsIn-line

View More Analyst Ratings for PQ
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Posted-In: Global Hunter SecuritiesAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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