Painted Pony Energy (TSE:PONY) Given New C$1.50 Price Target at Royal Bank of Canada

Painted Pony Energy (TSE:PONY) had its price target lowered by Royal Bank of Canada from C$2.50 to C$1.50 in a report released on Thursday, BayStreet.CA reports.

Several other research firms have also recently weighed in on PONY. Eight Capital increased their price objective on Painted Pony Energy from C$1.85 to C$1.90 in a research report on Thursday, May 2nd. CIBC reissued a hold rating and issued a $2.50 price objective on shares of Advantage Oil & Gas in a research report on Thursday. National Bank Financial reduced their price objective on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. GMP Securities reissued a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Finally, Raymond James reissued a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Painted Pony Energy currently has an average rating of Hold and a consensus target price of C$1.95.

PONY opened at C$0.87 on Thursday. Painted Pony Energy has a 1-year low of C$0.86 and a 1-year high of C$3.54. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 75.09. The company has a market capitalization of $140.07 million and a PE ratio of 12.43. The company has a 50 day simple moving average of C$0.98.

Painted Pony Energy Company Profile

Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in Western Canada. It focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia. The company was formerly known as Painted Pony Petroleum Ltd.

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Analyst Recommendations for Painted Pony Energy (TSE:PONY)

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