Zacks Investment Research upgraded shares of Dawson Geophysical (NASDAQ:DWSN) from a hold rating to a buy rating in a research note published on Monday morning. The firm currently has $6.75 target price on the oil and gas company’s stock.
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. “
Separately, ValuEngine upgraded shares of Dawson Geophysical from a strong sell rating to a sell rating in a research note on Tuesday, January 9th.
Dawson Geophysical (NASDAQ:DWSN) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.21. Dawson Geophysical had a negative net margin of 22.90% and a negative return on equity of 21.66%. equities analysts forecast that Dawson Geophysical will post -1.48 EPS for the current year.
Several large investors have recently modified their holdings of the company. Menta Capital LLC lifted its stake in shares of Dawson Geophysical by 12.5% in the 2nd quarter. Menta Capital LLC now owns 49,244 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 5,473 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Dawson Geophysical by 10.5% in the 2nd quarter. Moors & Cabot Inc. now owns 81,442 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 7,750 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Dawson Geophysical by 261.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 52,217 shares of the oil and gas company’s stock worth $205,000 after purchasing an additional 37,771 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Dawson Geophysical by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,490,953 shares of the oil and gas company’s stock worth $5,845,000 after purchasing an additional 57,167 shares during the period. Finally, Quantum Capital Management bought a new position in shares of Dawson Geophysical in the 3rd quarter worth approximately $340,000. Hedge funds and other institutional investors own 63.68% of the company’s stock.
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Dawson Geophysical Company Profile
Dawson Geophysical Company, formerly TGC Industries, Inc, is a provider of onshore seismic data acquisition and processing services with operations throughout the United States and Canada. The Company acquires and processes two-dimensional (2-D), three-dimensional (3-D) and multi-component seismic data for its clients, ranging from oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries.
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