Perpetual Energy Inc. (PMT) Price Target Cut to C$2.00
Perpetual Energy Inc. (TSE:PMT) had its price target cut by TD Securities from C$2.50 to C$2.00 in a research note issued to investors on Friday. The firm currently has a “hold” rating on the stock. TD Securities’ price target indicates a potential upside of 19.76% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a C$2.50 price objective on shares of Perpetual Energy in a report on Tuesday, February 21st. Scotiabank set a C$2.00 price target on Perpetual Energy and gave the stock an “underperform” rating in a report on Monday, February 13th. Finally, GMP Securities downgraded Perpetual Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$3.00 to C$2.50 in a report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of C$2.00.
Perpetual Energy (TSE:PMT) opened at 1.67 on Friday. The company has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.91. The company’s market capitalization is $87.34 million. Perpetual Energy has a 52 week low of $1.00 and a 52 week high of $2.50.
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In other Perpetual Energy news, insider Clayton H. Riddell purchased 300,000 shares of the stock in a transaction on Monday, March 6th. The stock was bought at an average cost of C$1.64 per share, for a total transaction of C$492,000.00. Also, insider Clayton H. Riddell purchased 200,000 shares of the stock in a transaction on Friday, March 3rd. The stock was acquired at an average price of C$1.62 per share, with a total value of C$324,000.00.
About Perpetual Energy
Perpetual Energy Inc (Perpetual) is a Canada-based oil and natural gas exploration and production company. The Company is engaged in finding, developing, producing and marketing natural gas, natural gas liquids (NGL), oil and bitumen. Perpetual’s business consists of operations in Alberta focused on exploring and developing the natural gas and NGL resource opportunities in the deep basin in west central Alberta; the exploration for and extraction of heavy oil in eastern Alberta; the development and production of shallow natural gas from mature producing regions in eastern Alberta; bitumen opportunities in northeast Alberta, and interest in a commercial gas storage business through the operation and ownership in a gas storage facility at Warwick in east central Alberta.
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