Dawson Geophysical (DWSN) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Dawson Geophysical (NASDAQ:DWSN) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The brokerage currently has $6.25 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. “

A number of other research firms have also recently commented on DWSN. ValuEngine cut Dawson Geophysical from a buy rating to a hold rating in a research note on Thursday, November 1st. Raymond James cut Dawson Geophysical from a strong-buy rating to an outperform rating in a research note on Friday, August 3rd.

Shares of NASDAQ DWSN traded down $0.22 during trading on Tuesday, reaching $5.40. The company had a trading volume of 19,500 shares, compared to its average volume of 59,079. Dawson Geophysical has a 12-month low of $4.55 and a 12-month high of $8.40. The stock has a market cap of $134.68 million, a P/E ratio of -3.94 and a beta of 1.07. The company has a current ratio of 3.46, a quick ratio of 3.61 and a debt-to-equity ratio of 0.06.

Dawson Geophysical (NASDAQ:DWSN) last released its earnings results on Thursday, November 1st. The oil and gas company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Dawson Geophysical had a negative return on equity of 12.60% and a negative net margin of 10.35%. The firm had revenue of $40.45 million for the quarter, compared to analysts’ expectations of $32.13 million. As a group, analysts forecast that Dawson Geophysical will post -0.73 earnings per share for the current fiscal year.

In other Dawson Geophysical news, Director William J. Barrett acquired 18,280 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 729,115 shares of the company’s stock, valued at approximately $4,199,702.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Barrett acquired 16,600 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 754,115 shares of the company’s stock, valued at $4,238,126.30. The disclosure for this purchase can be found here. Corporate insiders own 7.97% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DWSN. BlackRock Inc. boosted its position in shares of Dawson Geophysical by 101.2% during the second quarter. BlackRock Inc. now owns 1,945,151 shares of the oil and gas company’s stock valued at $15,366,000 after buying an additional 978,357 shares during the last quarter. Northern Trust Corp boosted its position in shares of Dawson Geophysical by 235.9% during the second quarter. Northern Trust Corp now owns 265,638 shares of the oil and gas company’s stock valued at $2,099,000 after buying an additional 186,546 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Dawson Geophysical during the second quarter valued at $1,108,000. Dimensional Fund Advisors LP boosted its position in shares of Dawson Geophysical by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,660,621 shares of the oil and gas company’s stock valued at $13,119,000 after buying an additional 118,518 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Dawson Geophysical by 5.5% during the second quarter. Renaissance Technologies LLC now owns 1,796,986 shares of the oil and gas company’s stock valued at $14,196,000 after buying an additional 94,224 shares during the last quarter. 68.60% of the stock is currently owned by institutional investors.

Dawson Geophysical Company Profile

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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