Filings Don’t Lie: Petroquest Energy Inc: Mackay Shields Llc Opened Big New Position

Filings Don't Lie: Petroquest Energy Inc: Mackay Shields Llc Opened Big New Position

The New Mackay Shields Llc Holding in Petroquest Energy Inc

Mackay Shields Llc filed with the SEC SC 13G form for Petroquest Energy Inc. The form can be accessed here: 000108514616004444. As reported in Mackay Shields Llc’s form, the filler as of late owns 7.7% or 1,631,635 shares of the Energy–company.

Petroquest Energy Inc stake is a new one for the for this institutional investor and it was filed because of activity on September 30, 2016. We feel this shows Mackay Shields Llc’s positive view for the stock. For a institutional investor managing $81.03 billion in assets and having 151+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Petroquest Energy Inc Institutional Sentiment

Latest Security and Exchange filings show 65 investors own Petroquest Energy Inc. The institutional ownership in Q3 2015 is high, at 187.96% of the outstanding shares. This is decreased by 6882981 the total institutional shares. 33137867 were the shares owned by these institutional investors. In total 5 funds opened new Petroquest Energy Inc stakes, 11 increased stakes. There were 46 that closed positions and 31 reduced them.

Hollow Brook Wealth Management Llc is an institutional investor bullish on Petroquest Energy Inc, owning 93915 shares as of Q3 2015 for 0.05% of its portfolio. Peter Keane Keane Capital Management Inc owns 321808 shares or 0.49% of its portfolio. IL Central Square Management Llc have 2.46% of their stock portfolio for 1962828 shares. Further, Birchview Capital Lp reported stake worth 0.13% of its US stock portfolio. The CA Hcsf Management Llc owns 2700000 shares. Petroquest Energy Inc is 3.34% of the manager’s US portfolio.

Business Profile

PetroQuest Energy, Inc. is an oil and gas company. The Company is engaged in exploratory, development and acquisition activities. The Company has approximately 30 gross exploratory wells and over 30 gross development wells. The Company has reserves in various areas, including East Texas, Gulf Coast Basin and Oklahoma Woodford. Its annual production from East Texas area is approximately 114.1 billions of cubic feet equivalent (Bcfe); Gulf Coast Basin is over 43.9 Bcfe, and Oklahoma Woodford is approximately 20.0 Bcfe. The net production from its East Texas assets averages over 30.4 millions of cubic feet equivalent (MMcfe) per day. Production from Gulf Coast Basin area totals approximately 37.8 MMcfe per day. The average daily production from its Oklahoma-Woodford properties totals over 25 MMcfe per day. The Company sells its oil and natural gas production under fixed or floating market contracts.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Mackay Shields Llc website.

Analysts await Petroquest Energy Inc (NYSE:PQ) to report earnings on November, 7. They expect $-0.38 earnings per share, up 47.22% or $0.34 from last year’s $-0.72 per share. After $-0.91 actual earnings per share reported by Petroquest Energy Inc for the previous quarter, Wall Street now forecasts -58.24% EPS growth.

The stock increased 12.30% or $0.45 during the last trading session, hitting $4.11. Petroquest Energy Inc (NYSE:PQ) has risen 93.87% since March 8, 2016 and is uptrending. It has outperformed by 84.55% the S&P500.

PetroQuest Energy, Inc. is an oil and gas company. The company has a market cap of $67.82 million. The Firm is engaged in exploratory, development and acquisition activities. It currently has negative earnings. The Firm has approximately 30 gross exploratory wells and over 30 gross development wells.

Petroquest Energy Inc (NYSE:PQ) Ratings Coverage

Out of 10 analysts covering Petroquest Energy Inc. (NYSE:PQ), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. $5 is the highest target while $1.40 is the lowest. The $2.85 average target is -30.66% below today’s ($4.11) stock price. Petroquest Energy Inc. has been the topic of 14 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Monday, December 14, the company rating was downgraded by Howard Weil. The rating was upgraded by Seaport Global on Wednesday, March 30 to “Buy”. The stock of Petroquest Energy Inc (NYSE:PQ) has “Buy” rating given on Friday, August 26 by Johnson Rice. The stock of Petroquest Energy Inc (NYSE:PQ) has “Overweight” rating given on Monday, October 10 by CapitalOne. The company was downgraded on Friday, September 4 by Zacks. The company was downgraded on Monday, August 17 by Iberia Capital Partners. The company was downgraded on Tuesday, June 7 by Seaport Global. The firm has “In-Line” rating given on Thursday, August 6 by Imperial Capital. The stock of Petroquest Energy Inc (NYSE:PQ) earned “Strong Sell” rating by Zacks on Tuesday, August 11. The rating was upgraded by Seaport Global Securities on Friday, August 26 to “Buy”.

More notable recent Petroquest Energy Inc (NYSE:PQ) news were published by: Prnewswire.com which released: “PetroQuest Energy Announces Closing Of Its Exchange Offers And Consent …” on September 27, 2016, also Prnewswire.com with their article: “PetroQuest Energy Announces Results Of The Exchange Offers And Consent …” published on September 09, 2016, Prnewswire.com published: “PetroQuest Energy Announces Private Exchange Offers And Consent Solicitation …” on August 25, 2016. More interesting news about Petroquest Energy Inc (NYSE:PQ) were released by: Prnewswire.com and their article: “PetroQuest Energy Announces Amendment To Support Agreements And Waiver Of …” published on September 13, 2016 as well as Prnewswire.com‘s news article titled: “PetroQuest Energy Announces Results Of The Exchange Offers And Consent …” with publication date: September 14, 2016.

According to Zacks Investment Research, “PetroQuest Energy, Inc. is an oil and gas exploration and production company primarily focused on growing its reserves and shareholder value through a combination of drilling development locations and high potential exploration prospects along and in the Gulf of Mexico.”

PQ Company Profile

PetroQuest Energy, Inc., incorporated on August 26, 1998, is an gas and oil company. The Firm is engaged in exploratory, development and acquisition activities. The Firm has approximately 30 gross exploratory wells and over 30 gross development wells. The Firm has reserves in various areas, including East Texas, Gulf Coast Basin and Oklahoma Woodford. The Company’s annual production from East Texas area is approximately 114.1 billions of cubic feet equivalent (Bcfe); Gulf Coast Basin is over 43.9 Bcfe, and Oklahoma Woodford is approximately 20.0 Bcfe.

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