Perpetual Energy (PMT) Shares Up -7.4%

Perpetual Energy Inc. (TSE:PMT) shot up 7.4% during mid-day trading on Tuesday . The stock traded as high as C$1.14 and last traded at C$1.00. 53,319 shares traded hands during trading, an increase of 62% from the average session volume of 32,843 shares. The stock had previously closed at C$1.08.

A number of analysts have commented on PMT shares. TD Securities increased their price target on shares of Perpetual Energy from C$1.20 to C$1.35 and gave the company a “hold” rating in a research note on Wednesday, November 8th. GMP Securities raised their target price on shares of Perpetual Energy from C$2.05 to C$2.10 in a research note on Monday, November 13th.

In related news, insider William Mark Schweitzer purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average cost of C$1.12 per share, with a total value of C$112,000.00. Insiders have purchased a total of 111,500 shares of company stock worth $126,025 over the last ninety days.

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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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