Petroquest Energy Inc (NYSE:PQ) Stock Up by 11%


Dallas, Texas 10/15/2013 (Financialstrend) – Petroquest Energy Inc (NYSE:PQ) is an independent oil and gas manufacturer with a market cap of 4290 million. Over the past 12 months trailing period, the oil drilling company had managed to record sales of $146 million. This had resulted in net loss of $58 million for the same period. With close to 116 employees on its roll, the company has managed to build on investor confidence in its stock over the past few weeks.

The stock appreciated by close to 11.3% over the past one week which comes on the back of $12.9% increase in its market value over the past 30 days. This upward movement of the stock is a welcome break for shareholders of PQ, since the stock had been under pressure to show appreciation over the past few months. The stock had registered a dip of 0.65% in its market value over the past 90 days with investors who had bought into the stock one year back having seen their investment depreciate by close to 30%.

The fortunes of the stock turned on the back of relatively strong earnings being reported from its operations spanning 4Q of FY13. Gross profits for quarter ending June 30 was $29.2 million which was the highest gains over the preceding four quarters. Offsetting these gains was $17 million net loss from 4Q operations. At close of business on October 14, the shares of the stock were trading at $4.62 per share up 2.6% over its previous day close. Current valuations of the stock place it at 32% below its 52 week high pricing and 30% above its 52 week low pricing. Through the day close to 0.42 million shares of PQ changed hands as against a daily trading average of 0.38 million shares. Investors in the stock would be hoping that the U.S. federal government shutdown will not negatively impact the stock of this oil compay.