Desjardins Lowers Peyto Exploration & Development (TSE:PEY) Price Target to C$13.50

Peyto Exploration & Development (TSE:PEY) had its price objective dropped by equities research analysts at Desjardins from C$14.00 to C$13.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential downside of 13.29% from the stock’s current price.

Several other equities research analysts have also recently weighed in on PEY. ATB Capital set a C$15.00 price objective on Peyto Exploration & Development and gave the stock an “outperform” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their price objective on Peyto Exploration & Development from C$14.00 to C$16.50 and gave the stock a “market perform” rating in a research note on Monday, March 11th. National Bankshares cut their target price on Peyto Exploration & Development from C$17.50 to C$15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Scotiabank cut their target price on Peyto Exploration & Development from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Finally, Canaccord Genuity Group upped their target price on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$16.27.

Peyto Exploration & Development Price Performance

TSE:PEY opened at C$15.57 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 0.32 and a debt-to-equity ratio of 51.67. The company has a market capitalization of C$3.02 billion, a P/E ratio of 9.61, a P/E/G ratio of -0.46 and a beta of 1.83. Peyto Exploration & Development has a 12 month low of C$10.38 and a 12 month high of C$15.68. The business’s 50-day moving average is C$14.58 and its 200 day moving average is C$13.64.

Insider Buying and Selling

In related news, Director Stephen Jonathan Chetner sold 2,700 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of C$14.50, for a total value of C$39,150.00. In other Peyto Exploration & Development news, Senior Officer Riley Millar Frame sold 19,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of C$14.48, for a total transaction of C$275,120.00. Also, Director Stephen Jonathan Chetner sold 2,700 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of C$14.50, for a total value of C$39,150.00. Insiders have sold a total of 108,700 shares of company stock valued at $1,573,840 over the last quarter. 2.51% of the stock is owned by corporate insiders.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.