Perpetual Energy Inc. (PMT) Shares Down 4.2%
Perpetual Energy Inc. (TSE:PMT) dropped 4.2% on Friday . The company traded as low as C$1.15 and last traded at C$1.15. Approximately 8,185 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 13,394 shares. The stock had previously closed at C$1.20.
Separately, TD Securities reduced their price target on shares of Perpetual Energy from C$1.50 to C$1.45 and set a “hold” rating on the stock in a research note on Monday, August 14th.
The stock’s 50-day moving average price is $1.24 and its 200 day moving average price is $1.46. The firm’s market capitalization is $70.21 million.
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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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