Peyto Exploration & Development Corp. (TSE:PEY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Peyto Exploration & Development Corp. (TSE:PEY) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$22.44.

Several research firms have commented on PEY. TD Securities lifted their price target on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Canaccord Genuity Group boosted their target price on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and increased their price target for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. Finally, CIBC lifted their price target on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a report on Wednesday, October 15th.

Peyto Exploration & Development Price Performance

PEY stock opened at C$22.72 on Monday. The stock has a market capitalization of C$4.59 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of -0.46 and a beta of -0.28. 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$14.57 and a 52-week high of C$23.74. The stock’s fifty day simple moving average is C$21.65 and its 200-day simple moving average is C$19.97.

Insider Activity

In other news, insider Todd Burdick sold 52,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of C$22.21, for a total value of C$1,154,920.00. Following the completion of the sale, the insider owned 208,206 shares of the company’s stock, valued at C$4,624,255.26. This represents a 19.98% decrease in their ownership of the stock. Also, insider Michael Richard Collens sold 13,000 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 25,000 shares of the company’s stock, valued at approximately C$549,000. This trade represents a 34.21% decrease in their ownership of the stock. Insiders have sold 337,400 shares of company stock valued at $7,383,580 in the last 90 days. 2.36% of the stock is owned by corporate 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.