Petrus Resources (TSE:PRQ) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Petrus Resources Ltd. (TSE:PRQ) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$1.72 and traded as low as C$1.69. Petrus Resources shares last traded at C$1.73, with a volume of 10,990 shares.

Wall Street Analysts Forecast Growth

Separately, Haywood Securities set a C$2.40 target price on shares of Petrus Resources and gave the company a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$2.40.

Petrus Resources Stock Up 1.8%

The stock’s 50 day simple moving average is C$1.72 and its two-hundred day simple moving average is C$1.82. The firm has a market cap of C$256.88 million, a P/E ratio of 23.25 and a beta of 0.26. The company has a debt-to-equity ratio of 25.22, a current ratio of 0.23 and a quick ratio of 0.48.

Petrus Resources (TSE:PRQ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C($0.10) EPS for the quarter. The company had revenue of C$25.28 million during the quarter. Petrus Resources had a negative return on equity of 0.27% and a negative net margin of 0.95%. As a group, research analysts forecast that Petrus Resources Ltd. will post 0.2131148 earnings per share for the current year.

Petrus Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 6.9%.

Insider Buying and Selling

In other Petrus Resources news, Director Donald Gordon Cormack sold 24,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$1.66, for a total value of C$39,840.00. Following the sale, the director directly owned 620 shares of the company’s stock, valued at approximately C$1,029.20. The trade was a 97.48% decrease in their ownership of the stock. Insiders acquired 37,500 shares of company stock valued at $61,396 over the last 90 days. Insiders own 75.21% of the company’s stock.

Petrus Resources Company Profile

Petrus Resources Ltd is a company that is engaged in the acquisition, development, exploration, and exploitation of energy business assets. The company receives maximum revenue from oil and natural gas. The company’s core operating areas are Ferrier, Central Alberta, and the Rocky Mountain foothills.