Painted Pony Energy (TSE:PONY) had its price objective cut by CIBC from C$2.50 to C$1.50 in a research report sent to investors on Thursday morning, BayStreet.CA reports.
A number of other research analysts have also recently commented on the stock. GMP Securities reissued a buy rating and set a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Raymond James reissued a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Eight Capital boosted their target price on shares of Painted Pony Energy from C$1.85 to C$1.90 in a research report on Thursday, May 2nd. National Bank Financial reduced their target price on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Finally, Canaccord Genuity reissued a buy rating and set a $7.50 target price on shares of in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of C$1.95.
TSE PONY opened at C$0.87 on Thursday. The stock’s fifty day moving average price is C$0.98. Painted Pony Energy has a 52 week low of C$0.86 and a 52 week high of C$3.54. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 75.09. The firm has a market capitalization of $140.07 million and a PE ratio of 12.43.
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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