August 18, 2005
SpeculatingStocks.com Stock Pick: PetroQuest Energy, Inc. (PQUE)
Stock Price: $7.76 (long-term strong buy)
PetroQuest Energy is an oil and gas exploration and production company focused on growing its reserves through a combination of drilling development locations and high potential exploration prospects along and in the Gulf of Mexico.
PQUE is another oil stock that we believe is undervalued and ready to break out. PQUE reported net income of $3.87 on $30.3 million in revenue for the most recent quarter ended June 30th.
PQUE is running at a PE of only 21.5 while other oil and gas stocks are trading at much higher multiples. We expect profits to sustain as the company continues to move forward with their drilling projects.
PQUE needs to reach $8.75 for a new 52-week high.
SpeculatingStocks.com Target Price: We expect PQUE to reach $14 within the next 3-6 months.