Peyto Exploration & Development (TSE:PEY) Given New C$27.00 Price Target at Scotiabank

Peyto Exploration & Development (TSE:PEY) had its price target lifted by Scotiabank from C$24.00 to C$27.00 in a research note released on Wednesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other research firms also recently commented on PEY. TD Securities boosted their target price on shares of Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Canaccord Genuity Group upped their price target on Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. CIBC upgraded Peyto Exploration & Development from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Finally, Cibc Captl Mkts raised Peyto Exploration & Development from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Peyto Exploration & Development currently has an average rating of “Moderate Buy” and an average target price of C$23.30.

Peyto Exploration & Development Trading Up 1.5%

Shares of Peyto Exploration & Development stock opened at C$23.95 on Wednesday. The business has a fifty day simple moving average of C$22.40 and a 200-day simple moving average of C$20.32. Peyto Exploration & Development has a fifty-two week low of C$14.57 and a fifty-two week high of C$24.39. The firm has a market cap of C$4.84 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of -0.46 and a beta of -0.46. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96.

Insider Buying and Selling

In other Peyto Exploration & Development news, insider Todd Burdick sold 52,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of C$22.21, for a total transaction of C$1,154,920.00. Following the completion of the sale, the insider directly owned 208,206 shares in the company, valued at approximately C$4,624,255.26. This trade represents a 19.98% decrease in their position. Also, insider Michael Richard Collens sold 13,000 shares of Peyto Exploration & Development stock in a transaction dated Monday, November 24th. The shares were sold at an average price of C$21.96, for a total value of C$285,480.00. Following the transaction, the insider directly owned 25,000 shares in the company, valued at approximately C$549,000. This trade represents a 34.21% decrease in their position. Over the last three months, insiders have sold 337,400 shares of company stock valued at $7,383,580. 2.36% of the stock is currently owned by company insiders.

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.