CIBC Forecasts Strong Price Appreciation for Peyto Exploration & Development (TSE:PEY) Stock

Peyto Exploration & Development (TSE:PEY) had its target price lifted by stock analysts at CIBC from C$19.25 to C$21.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 11.17% from the stock’s current price.

Peyto Exploration & Development Stock Down 1.3%

PEY stock opened at C$18.89 on Wednesday. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. Peyto Exploration & Development has a 52-week low of C$14.57 and a 52-week high of C$21.12. The company has a 50-day moving average of C$18.74 and a two-hundred day moving average of C$18.71. The stock has a market capitalization of C$3.79 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of -0.46 and a beta of 0.00.

Insiders Place Their Bets

In other Peyto Exploration & Development news, insider Michael Richard Collens sold 26,000 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of C$18.80, for a total value of C$488,800.00. Following the completion of the sale, the insider directly owned 25,000 shares of the company’s stock, valued at C$470,000. This represents a 50.98% decrease in their position. Also, insider Crissy Rafoss purchased 5,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was bought at an average price of C$18.51 per share, for a total transaction of C$101,805.00. Following the completion of the transaction, the insider directly owned 5,500 shares in the company, valued at approximately C$101,805. The trade was a ∞ increase in their ownership of the stock. Insiders have acquired a total of 14,450 shares of company stock valued at $267,380 in the last three months. Company insiders own 2.36% of the company’s stock.

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.