Industrial Alliance Securities cut shares of Painted Pony Energy (TSE:PONY) from a buy rating to a speculative buy rating in a report released on Thursday morning, BayStreet.CA reports. The brokerage currently has C$1.50 target price on the stock, down from their previous target price of C$2.00.
A number of other analysts have also weighed in on PONY. Royal Bank of Canada dropped their price objective on Painted Pony Energy from C$2.50 to C$1.50 in a research note on Thursday, July 18th. GMP Securities decreased their target price on Painted Pony Energy from C$2.25 to C$1.30 in a report on Friday, June 28th. Canaccord Genuity decreased their target price on Painted Pony Energy from C$2.50 to C$1.75 in a report on Tuesday, July 9th. Raymond James decreased their target price on Painted Pony Energy from C$2.00 to C$1.50 in a report on Thursday, July 11th. Finally, National Bank Financial decreased their target price on Painted Pony Energy from C$2.25 to C$1.00 and set a sector perform rating for the company in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Painted Pony Energy presently has a consensus rating of Hold and an average target price of C$1.51.
Shares of TSE:PONY traded down C$0.04 during trading on Thursday, reaching C$0.76. 835,392 shares of the company traded hands, compared to its average volume of 475,357. The stock has a market capitalization of $128.80 million and a price-to-earnings ratio of 11.00. Painted Pony Energy has a 52-week low of C$0.74 and a 52-week high of C$3.54. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 75.09. The firm’s fifty day simple moving average is C$0.93.
About Painted Pony Energy
Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in Western Canada. It focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia. The company was formerly known as Painted Pony Petroleum Ltd.
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