Shares of Perpetual Energy Inc. (TSE:PMT) dropped 5.3% on Tuesday . The stock traded as low as C$0.71 and last traded at C$0.71. Approximately 24,611 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 65,444 shares. The stock had previously closed at C$0.75.
PMT has been the subject of several analyst reports. TD Securities upped their price objective on Perpetual Energy from C$1.35 to C$1.65 and gave the company a “hold” rating in a research note on Tuesday, November 14th. GMP Securities upped their price objective on Perpetual Energy from C$2.05 to C$2.10 in a research note on Monday, November 13th.
The firm has a market cap of $44.78, a P/E ratio of -4.24 and a beta of 1.04.
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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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