Insider Buying: Petrus Resources (TSE:PRQ) Director Buys 29,382 Shares

Key Points

• Director Donald Gordon Cormack bought 29,382 Petrus Resources shares at an average C$1.82 each, investing C$53,475 and increasing his direct holdings by 4,739% to 30,002 shares.
• Petrus reported quarterly EPS of C$0.06 on C$32.63 million in revenue and declared a monthly C$0.01 dividend, implying a 6.6% annualized yield.
• The stock traded near C$1.83, while the company holds a consensus “Buy” rating and an average analyst price target of C$2.40.

Petrus Resources Ltd. (TSE:PRQ - Get Free Report) Director Donald Gordon Cormack bought 29,382 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of C$1.82 per share, with a total value of C$53,475.24. Following the completion of the purchase, the director directly owned 30,002 shares of the company's stock, valued at C$54,603.64. This represents a 4,739.03% increase in their position.

Donald Gordon Cormack also recently made the following trade(s):

• On Monday, June 22nd, Donald Gordon Cormack sold 24,000 shares of Petrus Resources stock. The shares were sold at an average price of C$1.66, for a total transaction of C$39,840.00.

Petrus Resources Price Performance

PRQ stock traded up C$0.02 during mid-day trading on Friday, hitting C$1.83. The company had a trading volume of 37,321 shares, compared to its average volume of 91,063. The company has a market capitalization of C$271.73 million, a price-to-earnings ratio of -91.50 and a beta of 0.26. Petrus Resources Ltd. has a 12-month low of C$1.43 and a 12-month high of C$2.30. The company has a quick ratio of 0.48, a current ratio of 0.45 and a debt-to-equity ratio of 20.95. The company has a 50-day moving average price of C$1.72 and a 200 day moving average price of C$1.82.

Petrus Resources (TSE:PRQ - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$32.63 million for the quarter. Petrus Resources had a negative return on equity of 0.66% and a negative net margin of 1.99%. On average, research analysts anticipate that Petrus Resources Ltd. will post 0.2131148 earnings per share for the current year.

Petrus Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 28th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 6.6%. Petrus Resources's payout ratio is presently -600.00%.

Wall Street Analysts Forecast Growth

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

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.

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