Boston, MA 03/19/2014 (wallstreetpr) – Petroquest Energy Inc (NYSE:PQ) which is a player in the oil and gas exploration and production business, could be an interesting stock – just the very kind you’ve been hunting – if you understand some key points about the stock.
The stock is already running high, and in the previous session it was a big mover, and managed to establish a new one-year high price on the back of solid volume. The stock has also witnessed interesting earnings estimates adjustment over the past month. And this now leads us to the question of whether the stock can keep rising on such estimate revisions.
Solid earnings estimates activity
Petroquest Energy Inc (NYSE:PQ) is currently witnessing very attractive earnings estimates revisions. And such are coming on the back of decent earnings growth momentum in the short-term.
As concerns the current quarter, the stock has received three upward earnings estimates and only one downward adjustment in earnings estimates in the past 30 days. On average, earnings estimates on the stock for the current quarter are up 25 percent, a move from $0.08 to $0.10. As for the current fiscal year, the stock has seen four higher earnings revisions and just one lower revision in the past 30 days. That leads to average increase in estimates of 22.5 percent, a move from $0.40 to $0.49.
What does that mean?
Generally, earnings estimates on the stock are up sharply for both the current quarter and year over the same time frame. The positive earnings estimates adjustments seen in the stock clearly suggest the increasing optimism in the stock’s prospects among analysts. It thus goes that Petroquest Energy Inc (NYSE:PQ) might be a solid investment choice for investors looking entry into the oil and gas industry on a promising note.
Petroquest Energy Inc (NYSE:PQ) is not only witnessing positive earnings revisions. The stock is also attracting bullish recommendation from analyst. And in the past 30 days, the stock has been living up to this expectation, spiking up more than 36 percent in that time frame. Thus, there is no better way to say that investors may want to plot for profit and future benefits in this promising stock.