Painted Pony Energy (PONY) Shares Up -4.2%

Shares of Painted Pony Energy Ltd (TSE:PONY) shot up 4.2% on Friday . The stock traded as high as C$2.15 and last traded at C$2.05. 677,781 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 1,350,887 shares. The stock had previously closed at C$2.14.

Several equities analysts have recently issued reports on PONY shares. National Bank Financial reduced their target price on Painted Pony Energy from C$3.75 to C$3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 9th. BMO Capital Markets reduced their target price on Painted Pony Energy from C$3.75 to C$2.75 in a research note on Friday, December 15th. Raymond James Financial reduced their target price on Painted Pony Energy from C$5.00 to C$4.50 and set a “market perform” rating on the stock in a research note on Thursday, November 9th. Finally, CSFB reduced their target price on Painted Pony Energy from C$4.50 to C$2.25 in a research note on Monday, October 30th. Five investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of C$4.29.

The company has a market cap of $330.04, a P/E ratio of 4.27 and a beta of 0.51.

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Painted Pony Energy Company Profile

Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in the Western Canadian Sedimentary Basin. The company focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.

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