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

Key Points

• Petrus Resources shares moved above their 50-day moving average, reaching C$1.82 before last trading at C$1.77 on volume of 20,247 shares.
• Haywood Securities assigned the stock a “Buy” rating with a C$2.40 price target; MarketBeat reports the same average rating and target.
• The company paid a monthly C$0.01 dividend, representing a reported 6.8% annualized yield, while insiders—including director Donald Gordon Cormack—bought shares and insiders collectively own 75.21% of the company.

Petrus Resources Ltd. (TSE:PRQ - Get Free Report)'s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$1.74 and traded as high as C$1.82. Petrus Resources shares last traded at C$1.77, with a volume of 20,247 shares.

Analyst Ratings Changes

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

Petrus Resources Stock Down 1.1%

The company has a 50 day simple moving average of C$1.74 and a two-hundred day simple moving average of C$1.81. The company has a market capitalization of C$264.99 million, a P/E ratio of -88.50 and a beta of 0.26. The company has a quick ratio of 0.48, a current ratio of 0.45 and a debt-to-equity ratio of 20.95.

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

Petrus Resources Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a c) annualized dividend and a yield of 6.8%. Petrus Resources's dividend payout ratio is -600.00%.

Insider Activity at Petrus Resources

In other Petrus Resources news, Director Donald Gordon Cormack bought 29,382 shares of the business's stock in a transaction on Friday, August 14th. The shares were acquired at an average price of C$1.82 per share, with a total value of C$53,475.24. Following the transaction, the director owned 30,002 shares of the company's stock, valued at approximately C$54,603.64. This trade represents a 4,739.03% increase in their position. Insiders acquired a total of 66,882 shares of company stock worth $114,871 in the last 90 days. Company 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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