Painted Pony Energy (TSE:PONY) Shares Down 6.8%

Painted Pony Energy Ltd (TSE:PONY) shares dropped 6.8% on Thursday . The company traded as low as C$0.68 and last traded at C$0.69, approximately 103,100 shares traded hands during mid-day trading. A decline of 78% from the average daily volume of 466,042 shares. The stock had previously closed at C$0.74.

Several equities research analysts recently commented on PONY shares. BMO Capital Markets cut their price target on shares of Painted Pony Energy from C$1.25 to C$1.10 in a research note on Thursday, August 1st. TD Securities cut their price target on shares of Painted Pony Energy from C$1.70 to C$1.35 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Raymond James cut their price target on shares of Painted Pony Energy from C$1.50 to C$1.00 and set a “market perform” rating on the stock in a research note on Thursday, August 1st. Eight Capital cut their price target on shares of Painted Pony Energy from C$1.90 to C$1.55 in a research note on Thursday, August 1st. Finally, CIBC cut their price target on shares of Painted Pony Energy from C$2.50 to C$1.50 in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of C$1.51.

The company’s 50 day moving average is C$0.81 and its 200 day moving average is C$1.29. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 75.69. The stock has a market capitalization of $107.87 million and a price-to-earnings ratio of 3.65.

About Painted Pony Energy (TSE:PONY)

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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