Dawson Geophysical (DWSN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Dawson Geophysical (NASDAQ:DWSN) from a hold rating to a sell rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “Dawson Geophysical Company offers onshore seismic data acquisition services primarily in the United States and Canada. The company acquires and processes 2-D, 3-D and multi-component seismic data for oil and gas companies. Dawson Operating Company, formerly known as Dawson Geophysical Company, is headquartered in Midland, Texas. “

Shares of DWSN stock opened at $2.73 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.05. Dawson Geophysical has a one year low of $2.67 and a one year high of $8.40. The stock has a market cap of $63.18 million, a PE ratio of -2.55 and a beta of 1.01.

Dawson Geophysical (NASDAQ:DWSN) last issued its quarterly earnings results on Thursday, February 28th. The oil and gas company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.31). Dawson Geophysical had a negative return on equity of 18.79% and a negative net margin of 15.83%. The company had revenue of $27.67 million for the quarter, compared to the consensus estimate of $44.20 million. As a group, analysts anticipate that Dawson Geophysical will post -1.06 EPS for the current year.

In related news, EVP James W. Thomas purchased 13,000 shares of Dawson Geophysical stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $3.12 per share, with a total value of $40,560.00. Following the completion of the transaction, the executive vice president now owns 59,400 shares of the company’s stock, valued at approximately $185,328. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 7.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG lifted its holdings in Dawson Geophysical by 54.2% in the fourth quarter. Deutsche Bank AG now owns 66,284 shares of the oil and gas company’s stock worth $223,000 after acquiring an additional 23,304 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Dawson Geophysical by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 199,675 shares of the oil and gas company’s stock worth $674,000 after acquiring an additional 13,525 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Dawson Geophysical by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,745,463 shares of the oil and gas company’s stock worth $5,900,000 after acquiring an additional 21,110 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Dawson Geophysical in the fourth quarter worth about $1,231,000. Finally, Two Sigma Investments LP bought a new position in Dawson Geophysical in the fourth quarter worth about $35,000. 68.35% of the stock is currently owned by hedge funds and other institutional investors.

Dawson Geophysical Company Profile

Dawson Geophysical Company provides onshore seismic data acquisition services in the United States and Canada. The company acquires and processes 2-D, 3-D, and multi-component seismic data for its clients, including oil and gas companies, and independent oil and gas operators, as well as providers of multi-client data libraries.

Read More: Do Tariffs Work?

Get a free copy of the Zacks research report on Dawson Geophysical (DWSN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Dawson Geophysical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dawson Geophysical and related companies with MarketBeat.com's FREE daily email newsletter.