Painted Pony Energy Ltd (PONY) Trading Down 1.4%

Painted Pony Energy Ltd (TSE:PONY) dropped 1.4% on Monday . The company traded as low as C$3.59 and last traded at C$3.61. Approximately 1,480,014 shares were traded during trading, an increase of 93% from the average daily volume of 768,831 shares. The stock had previously closed at C$3.66.

PONY has been the topic of a number of recent research reports. Canaccord Genuity raised their price objective on Painted Pony Energy to C$7.00 in a research report on Thursday, August 31st. CSFB dropped their price objective on Painted Pony Energy from C$4.50 to C$2.25 in a research report on Monday, October 30th. Raymond James Financial, Inc. downgraded Painted Pony Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$7.00 to C$6.00 in a research report on Thursday, August 31st. National Bank Financial dropped their price objective on Painted Pony Energy from C$5.75 to C$5.25 and set a “sector perform” rating on the stock in a research report on Thursday, August 10th. Finally, Scotiabank dropped their price objective on Painted Pony Energy from C$6.00 to C$4.50 and set a “sector perform” rating on the stock in a research report on Thursday, August 31st. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of C$4.75.

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Painted Pony Energy Company Profile

Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in the Western Canadian Sedimentary Basin. The company focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.

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