Petroleum Geo Services: Bad First Half-Year Gives Ideal Opportunity For Buying
- Petroleum Geo Services is active in seismic surveying for the oil and gas industry.
- The data it acquires are either on direct order of a customer or stored in PGS’ MultiClient library. This gives PGS flexibility and increases the utilization rate of its vessels.
- PGS had a relatively weak first half of 2014, resulting in a significant drop in the company’s share price.
- Nevertheless, PGS is very profitable, has a P/E of less than 9, a P/B of less than 0.9 and pays a dividend yield of 4.6%.
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Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.
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