Painted Pony Energy Ltd (TSE:PONY) shares were down 5.9% on Thursday . The stock traded as low as C$2.50 and last traded at C$2.56. Approximately 2,314,048 shares changed hands during trading, an increase of 31% from the average daily volume of 1,768,249 shares. The stock had previously closed at C$2.72.

Several research analysts have weighed in on PONY shares. CSFB lowered their price target on Painted Pony Energy from C$4.50 to C$2.25 in a research report on Monday, October 30th. Raymond James Financial lowered their price target on Painted Pony Energy from C$5.00 to C$4.50 and set a “market perform” rating on the stock in a research report on Thursday, November 9th. Finally, BMO Capital Markets lowered their price target on Painted Pony Energy from C$3.75 to C$2.75 in a research report on Friday, December 15th. Five investment analysts have rated the stock with a hold rating, Painted Pony Energy has a consensus rating of “Hold” and an average target price of C$4.50.

The stock has a market cap of $388.00, a PE ratio of 4.56 and a beta of 0.51.

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About Painted Pony Energy

Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in the Western Canadian Sedimentary Basin. The company focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.

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