Perpetual Energy (PMT) Shares Down 4%
Perpetual Energy Inc. (TSE:PMT) fell 4% on Thursday . The company traded as low as C$1.00 and last traded at C$1.05. 26,851 shares traded hands during trading, a decline of 18% from the average session volume of 32,647 shares. The stock had previously closed at C$1.01.
A number of brokerages have weighed in on PMT. TD Securities raised their price objective on Perpetual Energy from C$1.35 to C$1.65 and gave the company a “hold” rating in a research note on Tuesday, November 14th. GMP Securities raised their price objective on Perpetual Energy from C$2.05 to C$2.10 in a research note on Monday, November 13th.
In other Perpetual Energy news, insider William Mark Schweitzer acquired 100,000 shares of the stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of C$1.12 per share, for a total transaction of C$112,000.00. In the last 90 days, insiders have acquired 112,500 shares of company stock valued at $127,375.
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Perpetual Energy Company Profile
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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