Peyto Exploration & Development Corp. (TSE:PEY) Receives C$23.30 Average PT from Brokerages

Shares of Peyto Exploration & Development Corp. (TSE:PEY) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$23.90.

Several research analysts have recently issued reports on PEY shares. TD Securities lowered Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 target price for the company. in a research report on Friday. Royal Bank Of Canada increased their target price on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Friday. Canaccord Genuity Group lifted their price target on Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. Desjardins upgraded shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and upped their price target for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. Finally, Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$21.00 to C$25.00 in a research report on Tuesday, January 13th.

Insider Activity

In related news, insider Todd Burdick sold 52,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of C$22.21, for a total value of C$1,154,920.00. Following the transaction, the insider directly owned 208,206 shares of the company’s stock, valued at approximately C$4,624,255.26. This represents a 19.98% decrease in their position. Also, insider Lee Russell Curran sold 28,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of C$22.27, for a total value of C$623,560.00. Following the sale, the insider owned 421,844 shares in the company, valued at approximately C$9,394,465.88. This represents a 6.22% decrease in their ownership of the stock. Over the last quarter, insiders have sold 175,000 shares of company stock valued at $3,870,120. Company insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Price Performance

Shares of Peyto Exploration & Development stock opened at C$25.95 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. Peyto Exploration & Development has a 52 week low of C$14.60 and a 52 week high of C$27.19. The company has a market cap of C$5.24 billion, a PE ratio of 14.10, a P/E/G ratio of -0.46 and a beta of -0.21. The business has a 50 day moving average of C$23.71 and a 200 day moving average of C$21.24.

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.