Quintana Energy Services Inc (NYSE:QES) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 62,700 shares, a decline of 8.1% from the July 31st total of 68,200 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 32,400 shares, the days-to-cover ratio is presently 1.9 days.

In related news, major shareholder Corbin J. Robertson, Jr. acquired 16,727 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of $1.62 per share, for a total transaction of $27,097.74. In the last 90 days, insiders have bought 31,843 shares of company stock worth $52,118. Insiders own 29.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada acquired a new position in Quintana Energy Services in the second quarter valued at about $27,000. Susquehanna International Group LLP acquired a new position in Quintana Energy Services in the second quarter valued at about $32,000. Morgan Stanley boosted its position in Quintana Energy Services by 231.1% in the second quarter. Morgan Stanley now owns 21,684 shares of the company’s stock valued at $35,000 after buying an additional 15,134 shares in the last quarter. Paloma Partners Management Co acquired a new position in Quintana Energy Services in the second quarter valued at about $44,000. Finally, Tower Research Capital LLC TRC boosted its position in Quintana Energy Services by 230.1% in the second quarter. Tower Research Capital LLC TRC now owns 16,949 shares of the company’s stock valued at $27,000 after buying an additional 11,814 shares in the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

QES has been the topic of several recent research reports. Evercore ISI set a $3.00 target price on shares of Quintana Energy Services and gave the company a “buy” rating in a research report on Friday, August 9th. Barclays set a $2.00 target price on shares of Quintana Energy Services and gave the company a “hold” rating in a research report on Monday, August 12th. Citigroup decreased their target price on shares of Quintana Energy Services from $3.00 to $1.75 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. ValuEngine upgraded shares of Quintana Energy Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America lowered shares of Quintana Energy Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.00.

Shares of Quintana Energy Services stock traded down $0.09 during trading on Friday, hitting $1.82. 35,685 shares of the company’s stock traded hands, compared to its average volume of 21,219. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.72 and a quick ratio of 1.41. The firm’s fifty day moving average price is $1.60 and its 200 day moving average price is $3.06. Quintana Energy Services has a twelve month low of $1.12 and a twelve month high of $8.13. The company has a market cap of $61.65 million, a PE ratio of -3.64 and a beta of 2.79.

Quintana Energy Services (NYSE:QES) last issued its earnings results on Wednesday, August 7th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.20). Quintana Energy Services had a negative net margin of 4.17% and a negative return on equity of 12.31%. The business had revenue of $125.63 million for the quarter, compared to analyst estimates of $140.30 million. As a group, equities research analysts anticipate that Quintana Energy Services will post -0.7 earnings per share for the current year.

About Quintana Energy Services

Quintana Energy Services Inc provides oilfield services to onshore oil and natural gas exploration and production companies operating in conventional and unconventional plays in the United States. The company operates through four segments: Directional Drilling, Pressure Pumping, Pressure Control, and Wireline.

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