Dawson Geophysical (NASDAQ:DWSN) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Dawson Geophysical (NASDAQ:DWSN) from a sell rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

DWSN has been the subject of several other research reports. Zacks Investment Research upgraded Dawson Geophysical from a sell rating to a hold rating in a report on Monday, June 17th. Raymond James set a $4.00 price objective on Dawson Geophysical and gave the stock a buy rating in a report on Thursday, May 2nd.

NASDAQ DWSN traded down $0.05 on Thursday, hitting $2.39. The company’s stock had a trading volume of 8,730 shares, compared to its average volume of 68,634. Dawson Geophysical has a 52-week low of $2.01 and a 52-week high of $6.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.04 and a current ratio of 3.04. The firm’s 50-day simple moving average is $2.37.

Dawson Geophysical (NASDAQ:DWSN) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.08). Dawson Geophysical had a negative return on equity of 23.41% and a negative net margin of 19.79%. The business had revenue of $24.08 million during the quarter, compared to analysts’ expectations of $24.91 million. Sell-side analysts predict that Dawson Geophysical will post -0.85 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DWSN. Wedge Capital Management L L P NC lifted its holdings in Dawson Geophysical by 34.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 447,249 shares of the oil and gas company’s stock worth $1,118,000 after buying an additional 115,805 shares during the period. Grace & White Inc. NY lifted its stake in shares of Dawson Geophysical by 8.2% in the 2nd quarter. Grace & White Inc. NY now owns 1,460,072 shares of the oil and gas company’s stock valued at $3,650,000 after purchasing an additional 110,189 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Dawson Geophysical by 95.7% in the 1st quarter. Moors & Cabot Inc. now owns 144,002 shares of the oil and gas company’s stock valued at $432,000 after purchasing an additional 70,426 shares during the period. Ironwood Investment Management LLC purchased a new position in shares of Dawson Geophysical in the 1st quarter valued at approximately $124,000. Finally, Deutsche Bank AG lifted its stake in shares of Dawson Geophysical by 54.2% in the 4th quarter. Deutsche Bank AG now owns 66,284 shares of the oil and gas company’s stock valued at $223,000 after purchasing an additional 23,304 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Dawson Geophysical

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.

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