Boston, MA -- (SBWIRE) -- 08/30/2013 -- At winstonsmallcap.com we focus on undervalued companies trading under $5. Right now the markets are surging and we are seeing an opportunity in micro-cap companies like we have never seen before. Let have a Look on: (Goodrich Petroleum Corporation (NYSE:GDP), Key Energy Services, Inc. (NYSE:KEG), U.S. Silica Holdings Inc (NYSE:SLCA), Quiksilver, Inc. (NYSE:ZQK)
Goodrich Petroleum Corporation (NYSE:GDP) shares increased 1.60% to $21.54. The company on August 27 announced it has closed on the previously announced acquisition of a 66.7% working interest in 277,000 gross acres and 750 barrels of oil per day effective March 1, 2013. The closing price after purchase price adjustments was $23.7 million, which was funded with available cash. At closing the Company's borrowing base increased to $243 million, with nothing currently drawn. The Company intends to spud its initial well on the acquired acreage in October 2013.
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Key Energy Services, Inc. (NYSE:KEG) shares fell 1.42% to $6.95. Equities researchers at Howard Weil dropped their price target on shares of KEG from $11.00 to $10.00 in a research report issued on August 29. The firm currently has a “sector perform” rating on the stock.
Additionally, the company issued its quarterly earnings data on July 25. The company reported $0.01 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.01. The company had revenue of $411.40 million for the quarter, compared to the consensus estimate of $421.24 million.
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U.S. Silica Holdings Inc (NYSE:SLCA) shares increased 0.86% to $23.52. The company on August 26 announced that it has signed a multi- year agreement with Wildcat Minerals LLC which provides the Company with potential sand storage and rail capacity at 16 of Wildcat's sand storage facilities, located near several major unconventional oil and gas shale basins. With the addition of these new sites, the Company now has in basin storage capacity at 40 transloads located near all of the major shale basins in the United States.
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Quiksilver, Inc. (NYSE:ZQK) shares gained 1.62% and closed at $5.03. Zacks upgraded shares of Quiksilver from an underperform rating to a neutral rating in a research note released on August 19. They currently have $5.50 target price on the stock. Separately, analysts at B. Riley downgraded shares of Quiksilver from a buy rating to a neutral rating in a research note to investors on August 12. They now have a $6.50 price target on the stock, down previously from $9.25.
Additionally, the company announced that it plans to issue a press release reporting its fiscal 2013 third quarter financial results after the close of the market on Thursday, September 5, 2013, and will conduct a conference call that same day at 4:30 p.m. Eastern time to review its results.
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Here at Winston we focus on undervalued companies trading under $5. Right now the markets are surging and we are seeing an opportunity in micro-cap companies like we have never seen before. We focus on companies that we feel are trading at a discount to the market for various reasons. Enter your email and track our performance! We are sure you won’t be disappointed.
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