Separately, Royal Bank of Canada cut their target price on shares of Perpetual Energy from C$0.70 to C$0.50 and set a sector perform rating for the company in a research report on Friday.
TSE:PMT remained flat at $C$0.22 during midday trading on Friday. 54,000 shares of the company traded hands, compared to its average volume of 41,159. Perpetual Energy has a one year low of C$0.19 and a one year high of C$1.21. The company has a quick ratio of 0.10, a current ratio of 0.61 and a debt-to-equity ratio of 88.52.
Perpetual Energy Inc engages in the exploration, development, and marketing of oil and natural gas based energy in Canada. It produces heavy oil, liquids-rich natural gas, shallow gas, and bitumen. The company has liquids-rich natural gas assets in the deep basin of west central Alberta; heavy oil and shallow natural gas assets in eastern Alberta; and undeveloped oil sands leases in northern Alberta.
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