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QES - Quintana Energy Services Inc News Story

$0.928 0.0  0.0%

Last Trade - 27/07/20

Sector
Energy
Size
Micro Cap
Market Cap £24.0m
Enterprise Value £36.3m
Revenue £333.3m
Position in Universe th / 6381

BUZZ-Quintana Energy: Continues to rise on business segment reshuffle

Wed 8th January, 2020 1:26pm
** Shares of oilfield services provider  QES.N  continue to
gain on structure change - up 17.8% at $3.9 premarket after
rising 6% in previous session
    ** On Monday, QES announced changes to structure of
reportable business segments, effective for quarter ending March
31, 2020  urn:newsml:reuters.com:*:nBw69ydBPa
    ** Co indicated results will be under two reportable
segments - Drilling and Completions
    ** Results for Pressure Pumping segment, Pressure Control
segment and Wireline segment, previously disclosed separately,
will be combined into Completions segment
    ** Estimates recurring annual cost savings to be about $3 -
$5 mln once changes are fully implemented
    ** Brokerage Citigroup raised PT to $3 from $2.15 
    ** Stock was down ~19% in 2019; up to Tuesday's close, QES
had risen ~18% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2439, outside U.S. +91 80 6749 2439;))
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