Petrus Resources (TSE:PRQ) Shares Cross Above 200-Day Moving Average – Is It Time to Sell?

Petrus Resources Ltd. (TSE:PRQ) has seen its stock price rise above its two hundred day moving average during trading on Thursday. The two hundred day moving average stands at C$1.39, and during the trading session, the stock reached a high of C$1.51. At the end of the trading day, shares of Petrus Resources were quoted at C$1.44, with a total trading volume of 171,855 shares.

Petrus Resources Experiences a 2.0% Drop

In terms of financial indicators, the company shows a quick ratio of 0.48 and a current ratio of 0.31. Its debt-to-equity ratio is notably high at 19.56, reflecting significant leverage. Over a shorter period, the firm’s fifty day moving average is C$1.44, almost aligning with the current share price. Petrus Resources has a market capitalization of C$179.09 million, a price-to-earnings ratio of 7.20, and a beta of 3.02, which indicates higher volatility in comparison to the market.

Dividend Announcement from Petrus Resources

Recently, Petrus Resources also announced a monthly dividend, with payment made on December 30th. Shareholders who were on record as of December 30th received a dividend of C$0.01 per share. The ex-dividend date occurred on December 16th. This dividend translates to an annual yield of 8.33%, based on a total of C$0.12 per share for the year. Currently, the company's dividend payout ratio stands at 60.00%.

About Petrus Resources

Petrus Resources Ltd. operates in Canada, focusing on the acquisition, exploration, development, and exploitation of various oil and gas resources. The company primarily targets crude oil and condensate, alongside natural gas and natural gas liquids. One of its key properties is located in the Ferrier Area, which encompasses approximately 94,614 acres of land around Rocky Mountain House, Alberta.

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Petrus, Stocks, Dividend