Perpetual Energy Inc. (TSE:PMT) shares shot up 2.9% on Wednesday . The stock traded as high as C$0.75 and last traded at C$0.72. 33,680 shares changed hands during trading, a decline of 42% from the average session volume of 57,858 shares. The stock had previously closed at C$0.70.

Several brokerages have commented on PMT. TD Securities cut their target price on Perpetual Energy from C$1.40 to C$1.00 and set a “hold” rating for the company in a research note on Thursday. GMP Securities raised their target price on Perpetual Energy from C$2.05 to C$2.10 in a research note on Monday, November 13th.

The company has a market cap of $41.80, a P/E ratio of -3.76 and a beta of 1.04.

Perpetual Energy (TSE:PMT) last issued its earnings results on Tuesday, November 7th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.05) by C($0.02). Perpetual Energy had a negative return on equity of 19.13% and a negative net margin of 44.06%. The company had revenue of C$20.03 million during the quarter.

In related news, insider William Mark Schweitzer bought 100,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average price of C$1.12 per share, for a total transaction of C$112,000.00.

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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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