Petroleum Resources Corp. (NYSE:PEO) had its target price raised by Acumen Capital from C$4.70 to C$5.10 in a research note issued to investors on Thursday, reports. The firm presently has a “buy” rating on the stock. Acumen Capital’s price objective points to a potential downside of 74.42% from the stock’s previous close.

Shares of Petroleum Resources Corp. (NYSE:PEO) traded up 0.1790% during trading on Thursday, hitting $19.9757. The stock had a trading volume of 45,970 shares. Petroleum Resources Corp. has a one year low of $14.29 and a one year high of $21.63. The stock’s market cap is $561.16 million. The stock’s 50 day moving average price is $19.78 and its 200-day moving average price is $19.36.

In related news, President James P. Haynie sold 2,700 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of C$19.55, for a total transaction of C$52,785.00. Following the completion of the transaction, the president now owns 10,458 shares of the company’s stock, valued at approximately C$204,453.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Petroleum Resources Corp. Company Profile

Adams Natural Resources Fund, Inc, formerly known as Petroleum & Resources Corporation, is a non-diversified closed-end investment company. The investment objectives of the Fund are preservation of capital, the attainment of reasonable income from investments and an opportunity for capital appreciation.

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