Peyto Exploration & Development (TSE:PEY) Rating Increased to Buy at Desjardins

Desjardins upgraded shares of Peyto Exploration & Development (TSE:PEY) from a hold rating to a buy rating in a research report report published on Monday morning,BayStreet.CA reports. Desjardins currently has C$24.50 target price on the stock, up from their prior target price of C$23.50.

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

Peyto Exploration & Development Stock Performance

TSE PEY opened at C$22.26 on Monday. The stock has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 12.10, a PEG ratio of -0.46 and a beta of -0.16. The stock has a 50-day moving average of C$19.89 and a 200 day moving average of C$19.41. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. Peyto Exploration & Development has a twelve month low of C$14.57 and a twelve month high of C$22.56.

Insider Activity at Peyto Exploration & Development

In other news, insider Riley Millar Frame sold 47,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of C$18.45, for a total transaction of C$867,239.30. Following the completion of the transaction, the insider directly owned 127,527 shares in the company, valued at C$2,353,115.45. This trade represents a 26.93% decrease in their ownership of the stock. Also, insider Lee Russell Curran sold 28,000 shares of Peyto Exploration & Development 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 completion of the sale, the insider directly owned 421,844 shares of the company’s stock, valued at C$9,394,465.88. The trade was a 6.22% decrease in their ownership of the stock. Over the last ninety days, insiders acquired 14,450 shares of company stock valued at $267,380 and sold 174,000 shares valued at $3,598,159. 2.36% of the stock is currently 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.