Petrus Resources (PRQ) Shares Down 17.6%

Petrus Resources Ltd (TSE:PRQ) dropped 17.6% on Wednesday . The stock traded as low as C$1.77 and last traded at C$2.00. Approximately 115,808 shares traded hands during trading, an increase of 264% from the average daily volume of 31,851 shares. The stock had previously closed at C$1.70.

PRQ has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Petrus Resources from C$3.25 to C$3.50 and gave the stock an “outperform” rating in a research note on Thursday, October 5th. Raymond James Financial boosted their price objective on Petrus Resources from C$3.00 to C$3.50 and gave the company an “outperform” rating in a research note on Thursday, October 5th. Finally, National Bank Financial reduced their price objective on Petrus Resources from C$3.25 to C$3.00 and set an “outperform” rating for the company in a research note on Tuesday, November 14th.

The company has a market capitalization of $98.86 and a price-to-earnings ratio of -1.62.

In related news, Director Don Gray bought 100,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of C$1.55 per share, with a total value of C$155,000.00.

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Petrus Resources Company Profile

Petrus Resources Ltd. is an oil and gas company. The Company focuses on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. The Company has production and growth opportunities in approximately three areas within the province of Alberta, including Ferrier, Central Alberta and the central Rocky Mountain foothills region.

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