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

Key Points

• Petrus Resources shares dipped below their 50-day moving average, reaching C$1.69 before last trading at C$1.73; the 50-day average is C$1.72 and the 200-day average is C$1.82.
• Haywood Securities maintained a “Buy” rating with a C$2.40 price target, implying potential upside from the current share price.
• The company announced a monthly C$0.01 dividend, representing a 6.9% yield, while its latest quarter showed a C$0.10 per-share loss on C$25.28 million in revenue.

Petrus Resources Ltd. (TSE:PRQ - Get Free Report) 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 traded.

Wall Street Analyst Weigh In

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

Petrus Resources Stock Up 1.8%

The company has a current ratio of 0.23, a quick ratio of 0.48 and a debt-to-equity ratio of 25.22. The firm has a market capitalization of C$256.88 million, a P/E ratio of 23.25 and a beta of 0.26. The company's fifty day simple moving average is C$1.72 and its 200 day simple moving average is C$1.82.

Petrus Resources (TSE:PRQ - Get Free Report) last posted its 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%. Research analysts expect that Petrus Resources Ltd. will post 0.2131148 EPS for the current year.

Petrus Resources Dividend Announcement

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 issued a $0.01 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 6.9%.

Insiders Place Their Bets

In other Petrus Resources news, Director Donald Gordon Cormack sold 24,000 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$1.66, for a total transaction of C$39,840.00. Following the transaction, the director owned 620 shares in the company, valued at approximately C$1,029.20. This represents a 97.48% decrease in their position. Over the last quarter, insiders purchased 37,500 shares of company stock worth $61,396. 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.

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