BTIG Research Reaffirms Buy Rating for Presidio Production (NYSE:FTW)

Presidio Production (NYSE:FTW)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $15.00 price target on the stock. BTIG Research‘s price target points to a potential upside of 46.34% from the stock’s current price.

A number of other equities research analysts have also weighed in on FTW. Wall Street Zen raised shares of Presidio Production from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings lowered Presidio Production from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, October 9th. Finally, Stephens initiated coverage on Presidio Production in a report on Thursday, October 8th. They issued an “overweight” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Presidio Production Trading Up 0.3%

Shares of NYSE FTW traded up $0.03 during mid-day trading on Friday, hitting $10.25. 68,661 shares of the stock traded hands, compared to its average volume of 92,252. The firm has a 50 day simple moving average of $10.14 and a two-hundred day simple moving average of $11.10. Presidio Production has a twelve month low of $9.46 and a twelve month high of $17.20.

Presidio Production (NYSE:FTW) last released its quarterly earnings data on Friday, November 13th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($1.90). The firm had revenue of $57.33 million during the quarter. As a group, sell-side analysts expect that Presidio Production will post -2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Presidio Production

A hedge fund recently raised its stake in Presidio Production stock. State Street Corp grew its holdings in shares of Presidio Production Company (NYSE:FTW) by 21.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,300 shares of the company’s stock after buying an additional 11,400 shares during the period. State Street Corp owned approximately 0.21% of Presidio Production worth $640,000 as of its most recent filing with the SEC.

About Presidio Production

Presidio Production Company is an independent oil and natural gas exploration and production company. Its activities include acquiring, developing and producing oil and gas properties. The company’s operations are focused on the Permian Basin, spanning West Texas and southeastern New Mexico. Presidio is based in Fort Worth, Texas.