Perpetual Energy Inc. (TSE:PMT) had its target price lifted by equities researchers at TD Securities from C$1.20 to C$1.35 in a research report issued to clients and investors on Wednesday, November 8th. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price would suggest a potential upside of 31.07% from the stock’s previous close.
Shares of Perpetual Energy (TSE:PMT) traded down C$0.02 during midday trading on Wednesday, reaching C$1.03. 36,754 shares of the company traded hands, compared to its average volume of 32,680. Perpetual Energy has a fifty-two week low of C$1.00 and a fifty-two week high of C$2.44.
In other news, insider William Mark Schweitzer bought 100,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of C$1.12 per share, for a total transaction of C$112,000.00. In the last 90 days, insiders have acquired 112,500 shares of company stock worth $127,375.
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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