Dawson Geophysical (DWSN) Upgraded at Zacks Investment Research

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Dawson Geophysical (NASDAQ:DWSN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

A number of other research firms also recently issued reports on DWSN. Raymond James set a $4.00 target price on shares of Dawson Geophysical and gave the company a “buy” rating in a research report on Thursday, May 2nd. ValuEngine downgraded shares of Dawson Geophysical from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

Dawson Geophysical stock opened at $2.38 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.04 and a current ratio of 3.04. Dawson Geophysical has a 1 year low of $2.20 and a 1 year high of $8.40. The stock has a market cap of $53.99 million, a price-to-earnings ratio of -2.22 and a beta of 0.98.

Dawson Geophysical (NASDAQ:DWSN) last released its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.24. Dawson Geophysical had a negative net margin of 14.69% and a negative return on equity of 18.36%. The company had revenue of $51.16 million for the quarter, compared to the consensus estimate of $38.05 million. On average, analysts forecast that Dawson Geophysical will post -0.85 earnings per share for the current year.

In related news, EVP James W. Thomas purchased 13,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was bought at an average cost of $3.12 per share, with a total value of $40,560.00. Following the purchase, the executive vice president now directly owns 59,400 shares in the company, valued at approximately $185,328. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in DWSN. Two Sigma Investments LP bought a new stake in shares of Dawson Geophysical in the 4th quarter valued at about $35,000. Virtu Financial LLC bought a new stake in shares of Dawson Geophysical in the 4th quarter valued at about $41,000. SG Americas Securities LLC bought a new stake in shares of Dawson Geophysical in the 1st quarter valued at about $43,000. Teton Advisors Inc. increased its stake in shares of Dawson Geophysical by 25.0% in the 1st quarter. Teton Advisors Inc. now owns 32,020 shares of the oil and gas company’s stock valued at $94,000 after acquiring an additional 6,400 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Dawson Geophysical by 46.2% in the 4th quarter. Rhumbline Advisers now owns 29,555 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 9,339 shares during the last quarter. 70.56% of the stock is owned by institutional investors.

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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