Painted Pony Energy (PONY) Trading Down 1.4% After Analyst Downgrade

Painted Pony Energy Ltd (TSE:PONY) dropped 1.4% during mid-day trading on Wednesday after National Bank Financial lowered their price target on the stock from C$3.75 to C$3.00. National Bank Financial currently has a sector perform rating on the stock. Painted Pony Energy traded as low as C$2.07 and last traded at C$2.09. Approximately 1,050,850 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 1,751,758 shares. The stock had previously closed at C$2.12.

Several other research analysts also recently weighed in on PONY. CSFB dropped their price target on Painted Pony Energy from C$4.50 to C$2.25 in a research note on Monday, October 30th. Raymond James Financial dropped their price target on Painted Pony Energy from C$5.00 to C$4.50 and set a “market perform” rating for the company in a research note on Thursday, November 9th. Finally, BMO Capital Markets dropped their price target on Painted Pony Energy from C$3.75 to C$2.75 in a research note on Friday, December 15th. Five equities research analysts have rated the stock with a hold rating, Painted Pony Energy has an average rating of “Hold” and an average target price of C$4.29.

The company has a market capitalization of $341.31, a PE ratio of 4.42 and a beta of 0.51.

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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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