Dawson Geophysical (DWSN) Raised to Hold 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 research note issued 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. “

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

Shares of DWSN traded down $0.02 during mid-day trading on Wednesday, hitting $2.33. 76,073 shares of the company’s stock were exchanged, compared to its average volume of 95,390. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.10. The firm has a market cap of $52.13 million, a price-to-earnings ratio of -2.18 and a beta of 0.98. Dawson Geophysical has a twelve month low of $2.20 and a twelve month high of $8.40.

Dawson Geophysical (NASDAQ:DWSN) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.24. The business had revenue of $51.16 million during the quarter, compared to the consensus estimate of $38.05 million. Dawson Geophysical had a negative net margin of 14.69% and a negative return on equity of 18.36%. As a group, research analysts predict that Dawson Geophysical will post -0.85 earnings per share for the current fiscal year.

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

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Dawson Geophysical by 37.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 54,133 shares of the oil and gas company’s stock worth $159,000 after buying an additional 14,633 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Dawson Geophysical by 2.8% during the first quarter. Renaissance Technologies LLC now owns 1,750,086 shares of the oil and gas company’s stock worth $5,128,000 after buying an additional 47,252 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Dawson Geophysical by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,781,689 shares of the oil and gas company’s stock worth $5,220,000 after buying an additional 36,226 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Dawson Geophysical by 15.4% during the first quarter. Acadian Asset Management LLC now owns 138,285 shares of the oil and gas company’s stock worth $406,000 after buying an additional 18,464 shares during the last quarter. Finally, Ironwood Investment Management LLC acquired a new position in Dawson Geophysical during the first quarter worth $124,000. Institutional investors own 70.56% 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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