Peyto Exploration & Development (TSE:PEY) Raised to “Buy” at Desjardins

Peyto Exploration & Development (TSE:PEY) was upgraded by research analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a C$24.50 target price on the stock, up from their prior target price of C$23.50. Desjardins’ target price would indicate a potential upside of 11.52% from the company’s current price.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lifted their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. TD Securities raised their price objective on shares of Peyto Exploration & Development from C$21.00 to C$23.00 in a report on Friday, November 14th. Finally, CIBC boosted their target price on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$22.22.

Peyto Exploration & Development Price Performance

PEY stock opened at C$21.97 on Monday. The stock’s 50 day moving average is C$19.96 and its two-hundred day moving average is C$19.43. Peyto Exploration & Development has a 52-week low of C$14.57 and a 52-week high of C$22.56. The company has a market capitalization of C$4.44 billion, a PE ratio of 11.94, a P/E/G ratio of -0.46 and a beta of -0.16. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96.

Insider Activity at Peyto Exploration & Development

In other news, insider Michael Richard Collens sold 13,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of C$21.96, for a total transaction of C$285,480.00. Following the sale, the insider directly owned 25,000 shares in the company, valued at approximately C$549,000. This represents a 34.21% decrease in their position. Also, insider Lee Russell Curran sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of C$22.27, for a total value of C$623,560.00. Following the completion of the sale, the insider directly owned 421,844 shares in the company, valued at approximately C$9,394,465.88. This trade represents a 6.22% decrease in their position. In the last three months, insiders purchased 14,450 shares of company stock valued at $267,380 and sold 148,000 shares valued at $3,109,359. 2.36% of the stock is owned by company insiders.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp (Peyto Exploration & Development) is an oil and gas company that involves in the exploration and development of natural gas. The company acquires, explores, develops and produces crude oil and unconventional natural gas reserves.