Can Petrus Resources Ltd’s Tomorrow be Different? The Stock Just Gapped Up

 Can Petrus Resources Ltd's Tomorrow be Different? The Stock Just Gapped Up

The stock of Petrus Resources Ltd (TSE:PRQ) gapped up by $0.01 today and has $2.71 target or 8.00% above today’s $2.51 share price. The 6 months technical chart setup indicates low risk for the $120.61M company. The gap was reported on Dec, 1 by Barchart.com. If the $2.71 price target is reached, the company will be worth $9.65M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 41,793 shares traded hands. Petrus Resources Ltd (TSE:PRQ) has risen 3.75% since April 26, 2016 and is uptrending. It has underperformed by 2.18% the S&P500.

Petrus Resources Ltd (TSE:PRQ) Ratings Coverage

Out of 2 analysts covering Progress Energy Resources Corp. (TSE:PRQ), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Progress Energy Resources Corp. has been the topic of 3 analyst reports since February 18, 2016 according to StockzIntelligence Inc. The stock of Petrus Resources Ltd (TSE:PRQ) has “Sector Perform” rating given on Friday, July 8 by RBC Capital Markets. The firm earned “Buy” rating on Thursday, February 18 by Cormark Securities. FirstEnergy Capital initiated Petrus Resources Ltd (TSE:PRQ) on Wednesday, February 24 with “An Outperform” rating.

More recent Petrus Resources Ltd (TSE:PRQ) news were published by: Marketwired.com which released: “Petrus Resources Announces Third Quarter 2016 Financial & Operating Results” on November 09, 2016. Also Marketwired.com published the news titled: “Petrus Resources Ltd. Announces Major Acquisition and Financing and Provides …” on September 03, 2014. Marketwired.com‘s news article titled: “Petrus Resources Ltd. Announces Closing of Acquisition and Debt Financing and …” with publication date: October 08, 2014 was also an interesting one.

Petrus Resources Ltd. is an oil and gas company. The company has a market cap of $120.61 million. The Firm focuses on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. It has a 1.53 P/E ratio. The Firm has production and growth opportunities in approximately three areas within the province of Alberta, including Ferrier, Central Alberta and the central Rocky Mountain foothills region.

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