Peyto Exploration & Development (TSE:PEY) Upgraded at Cibc Captl Mkts

Cibc Captl Mkts upgraded shares of Peyto Exploration & Development (TSE:PEY) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on PEY. TD Securities lifted their price target on shares of Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Canaccord Genuity Group lifted their price objective on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. CIBC raised shares of Peyto Exploration & Development from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$21.00 to C$25.00 in a research report on Tuesday. Finally, Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their price target for the company from C$23.50 to C$24.50 in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$22.89.

Peyto Exploration & Development Trading Up 0.9%

Shares of Peyto Exploration & Development stock opened at C$22.55 on Tuesday. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. Peyto Exploration & Development has a 52 week low of C$14.57 and a 52 week high of C$23.74. The stock has a 50 day moving average price of C$22.19 and a two-hundred day moving average price of C$20.18. The stock has a market capitalization of C$4.55 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of -0.46 and a beta of -0.46.

Insider Transactions at Peyto Exploration & Development

In other news, insider Riley Millar Frame purchased 11,500 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average cost of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the acquisition, the insider owned 128,877 shares in the company, valued at C$2,935,818.06. This trade represents a 9.80% increase in their ownership of the stock. Also, insider Michael Richard Collens sold 13,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 25,000 shares of the company’s stock, valued at C$549,000. The trade was a 34.21% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 337,400 shares of company stock worth $7,383,580. 2.36% of the stock is owned by insiders.

About Peyto Exploration & Development

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.