Petrus Resources (PRQ) Price Target Cut to C$1.50

Petrus Resources (TSE:PRQ) had its target price cut by Raymond James from C$2.00 to C$1.50 in a report issued on Friday.

Several other brokerages have also recently issued reports on PRQ. CIBC dropped their target price on Petrus Resources from C$1.75 to C$1.25 in a report on Friday, July 20th. Royal Bank of Canada dropped their target price on Petrus Resources from C$2.25 to C$1.50 and set an outperform rating for the company in a report on Friday, August 10th. National Bank Financial restated an outperform rating and issued a C$1.50 target price on shares of Petrus Resources in a report on Friday, August 10th. Finally, Cormark dropped their target price on Petrus Resources from C$3.25 to C$2.50 in a report on Friday, August 10th.

Shares of PRQ opened at C$0.83 on Friday. Petrus Resources has a one year low of C$0.75 and a one year high of C$2.72.

Petrus Resources (TSE:PRQ) last issued its quarterly earnings results on Thursday, August 9th. The company reported C($0.21) EPS for the quarter. Petrus Resources had a negative return on equity of 146.00% and a negative net margin of 331.44%. The firm had revenue of C$19.32 million for the quarter.

In related news, Director Don Gray bought 120,500 shares of the company’s stock in a transaction on Friday, August 10th. The stock was bought at an average cost of C$0.83 per share, for a total transaction of C$100,015.00. Over the last 90 days, insiders acquired 271,600 shares of company stock valued at $248,428.

About Petrus Resources

Petrus Resources Ltd., an energy company, engages in the acquisition, exploration, development, and exploitation of oil and gas development assets in western Canada. The company primarily explores for natural gas, natural gas liquids, and crude oil. It primarily holds an average 55% working interest in the Ferrier/Strachan area, which comprises 46,202 net acres of land located in west central Alberta.

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