Perpetual Energy Inc. (TSE:PMT)’s share price fell 9.9% during trading on Thursday after TD Securities lowered their price target on the stock from C$1.40 to C$1.00. TD Securities currently has a hold rating on the stock. Perpetual Energy traded as low as C$0.64 and last traded at C$0.64. 110,725 shares changed hands during trading, an increase of 89% from the average session volume of 58,728 shares. The stock had previously closed at C$0.71.
Separately, GMP Securities raised their target price on Perpetual Energy from C$2.05 to C$2.10 in a research report on Monday, November 13th.
In related news, insider William Mark Schweitzer bought 100,000 shares of the business’s stock in a transaction that occurred 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.
Perpetual Energy (TSE:PMT) last posted its earnings results on Tuesday, November 7th. The company reported C($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.05) by C($0.02). The company had revenue of C$20.03 million for the quarter. Perpetual Energy had a negative return on equity of 19.13% and a negative net margin of 44.06%.
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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