Dawson Geophysical (DWSN) Rating Lowered to Sell at Zacks Investment Research

Dawson Geophysical (NASDAQ:DWSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, 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. “

NASDAQ:DWSN traded down $0.10 during midday trading on Friday, hitting $2.73. 145,984 shares of the stock were exchanged, compared to its average volume of 77,657. Dawson Geophysical has a one year low of $2.67 and a one year high of $8.40. The stock has a market cap of $65.26 million, a price-to-earnings ratio of -2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.82 and a quick ratio of 2.82.

Dawson Geophysical (NASDAQ:DWSN) last posted its quarterly earnings results on Thursday, February 28th. The oil and gas company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.31). The business had revenue of $27.67 million during the quarter, compared to analyst estimates of $44.20 million. Dawson Geophysical had a negative return on equity of 18.79% and a negative net margin of 15.83%. On average, sell-side analysts expect that Dawson Geophysical will post -0.68 EPS for the current year.

In other Dawson Geophysical news, EVP James W. Thomas purchased 13,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $3.12 per share, for a total transaction of $40,560.00. Following the completion of the transaction, the executive vice president now owns 59,400 shares in the company, valued at approximately $185,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.24% of the company’s stock.

A number of institutional investors have recently bought and sold shares of DWSN. Salem Investment Counselors Inc. acquired a new position in Dawson Geophysical in the fourth quarter worth approximately $1,231,000. Grace & White Inc. NY grew its position in Dawson Geophysical by 19.0% in the fourth quarter. Grace & White Inc. NY now owns 1,289,864 shares of the oil and gas company’s stock worth $4,360,000 after buying an additional 206,197 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Dawson Geophysical by 35.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 269,127 shares of the oil and gas company’s stock worth $910,000 after buying an additional 69,924 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Dawson Geophysical by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,724,353 shares of the oil and gas company’s stock worth $10,674,000 after buying an additional 63,732 shares during the last quarter. Finally, Morgan Stanley grew its position in Dawson Geophysical by 22.2% in the third quarter. Morgan Stanley now owns 245,671 shares of the oil and gas company’s stock worth $1,521,000 after buying an additional 44,617 shares during the last quarter. Hedge funds and other institutional investors own 68.35% 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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