What’s Ahead for Painted Pony Petroleum Ltd After Today’s Huge Decline?


The stock of Painted Pony Petroleum Ltd (TSE:PPY) is a huge mover today! The stock decreased 3.47% or $0.29 on September 13, hitting $8.06. About 391,358 shares traded hands. Painted Pony Petroleum Ltd (TSE:PPY) has risen 94.64% since February 5, 2016 and is uptrending. It has outperformed by 78.15% the S&P500.
The move comes after 7 months negative chart setup for the $824.41 million company. It was reported on Sep, 14 by Barchart.com. We have $7.58 PT which if reached, will make TSE:PPY worth $49.46M less.

Out of 5 analysts covering Painted Pony Petroleum (TSE:PPY), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $13 is the highest target while $4.75 is the lowest. The $9.06 average target is 12.41% above today’s ($8.06) stock price. Painted Pony Petroleum has been the topic of 15 analyst reports since October 28, 2015 according to StockzIntelligence Inc. Scotia Capital maintained the stock on August 12 with “Outperform” rating.

Painted Pony Petroleum Ltd. is a natural gas firm in Western Canada. The company has a market cap of $824.41 million. The Company’s principal business activity is the exploration, development and production of petroleum and natural gas resources in western Canada. It currently has negative earnings. It is focused on the development of natural gas and natural gas liquids from the Montney formation in Northeast British Columbia.

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