Permex Petroleum Corp (CNSX:OIL)’s stock price traded up 11.1% during mid-day trading on Thursday . The stock traded as high as $0.05 and last traded at $0.05, 129,400 shares traded hands during mid-day trading. The stock had previously closed at $0.05.
Separately, Fundamental Research cut their target price on shares of Permex Petroleum from $0.65 to $0.50 and set a “buy” rating for the company in a research note on Thursday, September 5th.
The company’s 50-day simple moving average is $0.06 and its 200-day simple moving average is $0.11.
Permex Petroleum Corporation engages in the acquisition, development, and production of oil and gas properties in the United States. The company holds interests in the Pittcock North property that covers an area of 320 acres, as well as the Pittcock South property that covers an area of 498 acres located on the Eastern Shelf of the Midland Basin; Mary Bullard property that covers an area of 241 acres located in Stonewall County; McMurtry property covering an area of 530 net acres located in Young County; Loving property, which covers an area of 980 net acres located on the boundary between Jack and Young Counties in Texas; and Peavy property that covers an areas of 160 acres located in Young County, Texas.
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