Dawson Geophysical (DWSN) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Dawson Geophysical (NASDAQ:DWSN) from a buy rating to a hold rating in a research note released on Thursday morning.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Dawson Geophysical from a sell rating to a buy rating and set a $8.75 target price on the stock in a report on Thursday, August 2nd. Raymond James cut shares of Dawson Geophysical from a strong-buy rating to an outperform rating in a report on Friday, August 3rd.

Dawson Geophysical stock traded up $0.33 during trading hours on Thursday, hitting $5.47. The company had a trading volume of 43,244 shares, compared to its average volume of 72,626. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.61 and a quick ratio of 3.61. Dawson Geophysical has a one year low of $4.55 and a one year high of $8.40.

Dawson Geophysical (NASDAQ:DWSN) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. The firm had revenue of $40.45 million for the quarter, compared to analysts’ expectations of $32.13 million. Dawson Geophysical had a negative net margin of 10.35% and a negative return on equity of 12.40%. On average, analysts forecast that Dawson Geophysical will post -0.75 EPS for the current fiscal year.

In other Dawson Geophysical news, Director William J. Barrett bought 18,280 shares of the stock in a transaction dated Monday, August 13th. The shares were bought at an average cost of $5.76 per share, with a total value of $105,292.80. Following the completion of the acquisition, the director now owns 729,115 shares of the company’s stock, valued at $4,199,702.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William J. Barrett bought 16,600 shares of the stock in a transaction dated Wednesday, August 15th. The shares were acquired at an average cost of $5.62 per share, for a total transaction of $93,292.00. Following the completion of the acquisition, the director now directly owns 754,115 shares of the company’s stock, valued at approximately $4,238,126.30. The disclosure for this purchase can be found here. Insiders have bought 36,650 shares of company stock worth $208,851 over the last ninety days. Insiders own 7.97% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. A.R.T. Advisors LLC acquired a new stake in shares of Dawson Geophysical during the 1st quarter worth approximately $134,000. Rhumbline Advisers acquired a new stake in shares of Dawson Geophysical during the 2nd quarter worth approximately $156,000. Russell Investments Group Ltd. boosted its position in shares of Dawson Geophysical by 815.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,272 shares of the oil and gas company’s stock worth $191,000 after acquiring an additional 21,622 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in shares of Dawson Geophysical during the 2nd quarter worth approximately $313,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Dawson Geophysical by 55.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 136,038 shares of the oil and gas company’s stock worth $1,074,000 after acquiring an additional 48,484 shares in the last quarter. 68.55% of the stock is currently 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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