Peyto Exploration & Development (TSE:PEY) Price Target Cut to C$5.00

Peyto Exploration & Development (TSE:PEY) had its price objective lowered by equities researchers at BMO Capital Markets from C$9.00 to C$5.00 in a report issued on Friday, BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 27.23% from the stock’s previous close.

Other research analysts have also issued research reports about the company. National Bank Financial set a C$10.50 target price on Peyto Exploration & Development in a report on Monday, April 8th. Eight Capital set a C$6.00 target price on Peyto Exploration & Development in a report on Wednesday, May 8th. TD Securities upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their target price for the company from C$8.50 to C$9.50 in a report on Thursday, April 18th. Finally, Raymond James dropped their target price on Peyto Exploration & Development from C$8.00 to C$7.50 and set a “market perform” rating on the stock in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Peyto Exploration & Development currently has an average rating of “Hold” and an average target price of C$8.83.

Shares of PEY stock traded down C$0.10 during trading hours on Friday, reaching C$3.93. The company had a trading volume of 1,622,849 shares, compared to its average volume of 867,676. Peyto Exploration & Development has a 12 month low of C$3.85 and a 12 month high of C$12.44. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 72.53. The firm has a market capitalization of $651.25 million and a PE ratio of 6.09.

Peyto Exploration & Development (TSE:PEY) last posted its earnings results on Tuesday, May 7th. The company reported C$0.15 earnings per share for the quarter. The company had revenue of C$151.66 million during the quarter. On average, equities research analysts anticipate that Peyto Exploration & Development will post 0.3 earnings per share for the current fiscal year.

In other Peyto Exploration & Development news, Senior Officer Jean-Paul Henri Lachance purchased 8,800 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of C$7.41 per share, for a total transaction of C$65,208.00. Following the completion of the acquisition, the insider now owns 110,760 shares of the company’s stock, valued at approximately C$820,731.60. Also, Senior Officer Kathy Turgeon purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were acquired at an average price of C$6.44 per share, for a total transaction of C$64,400.00. Following the completion of the acquisition, the insider now directly owns 100,610 shares of the company’s stock, valued at approximately C$647,928.40.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin, Alberta. As of December 31, 2018, it had a total proved plus probable reserves of 803 million barrels of oil equivalent.

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Analyst Recommendations for Peyto Exploration & Development (TSE:PEY)

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