Petrus Resources (PRQ) PT Lowered to C$2.00

Petrus Resources (TSE:PRQ) had its price objective reduced by Raymond James from C$2.50 to C$2.00 in a research note issued to investors on Friday. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 129.89% from the company’s current price.

A number of other research analysts also recently weighed in on PRQ. Royal Bank of Canada lowered their price objective on shares of Petrus Resources from C$2.25 to C$1.50 and set an “outperform” rating on the stock in a research report on Friday. National Bank Financial set a C$1.50 target price on shares of Petrus Resources and gave the company an “outperform” rating in a report on Friday. Cormark reduced their target price on shares of Petrus Resources from C$3.25 to C$2.50 in a report on Friday. Finally, CIBC upped their target price on shares of Petrus Resources from C$1.50 to C$1.75 in a report on Friday, May 18th.

Petrus Resources stock traded up C$0.10 during midday trading on Friday, reaching C$0.87. 171,000 shares of the company traded hands, compared to its average volume of 36,682. Petrus Resources has a 12 month low of C$0.75 and a 12 month high of C$2.78.

About Petrus Resources

Petrus Resources Ltd., an energy company, engages in the acquisition, exploration, development, and exploitation of oil and gas development assets in western Canada. The company primarily explores for natural gas, natural gas liquids, and crude oil. It primarily holds an average 55% working interest in the Ferrier/Strachan area, which comprises 46,202 net acres of land located in west central Alberta.

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