Analyst Provides Guidance for This Canadian Energy Stock
A Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Perpetual Energy (PMT) received a Hold rating from RBC Capital’s analyst Shailender Randhawa, with a C$0.50 price target.
According to TipRanks.com, Randhawa is ranked 0 out of 5 stars with an average return of -5.7% and a 36.1% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering
The word on The Street in general, suggests a Hold analyst consensus rating for Perpetual Energy with a C$0.45 average price target.
Based on Perpetual Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$1.33 million. In comparison, last year the company had a GAAP net loss of C$8.08 million.
Perpetual Energy, Inc. engages in the exploration, production, and distribution of oil and gas-based energy. Its portfolio includes natural gas assets in the deep basin of west central Alberta, heavy oil and shallow natural gas in eastern Alberta, and undeveloped oil sands leases in northern Alberta.
The company’s shares closed on Friday at C$0.22, close to its 52-week low of C$0.19.