Peyto Exploration & Development Corp. (TSE:PEY) Receives C$23.30 Average Target Price from Analysts

Shares of Peyto Exploration & Development Corp. (TSE:PEY) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$23.30.

PEY has been the subject of a number of analyst reports. Scotiabank upped their price target on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. CIBC raised Peyto Exploration & Development from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$21.00 to C$25.00 in a research note on Tuesday, January 13th. TD Securities increased their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and lifted their price target for the company from C$23.50 to C$24.50 in a research note on Monday, November 24th. Finally, Canaccord Genuity Group boosted their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th.

Insider Buying and Selling at Peyto Exploration & Development

In related news, insider Todd Burdick sold 52,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of C$22.21, for a total transaction of C$1,154,920.00. Following the completion of the transaction, the insider owned 208,206 shares in the company, valued at C$4,624,255.26. This represents a 19.98% decrease in their position. Also, insider Lee Russell Curran sold 28,000 shares of Peyto Exploration & Development stock in a transaction dated Monday, November 24th. The stock was 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 owned 421,844 shares in the company, valued at approximately C$9,394,465.88. The trade was a 6.22% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 337,400 shares of company stock valued at $7,383,580. Corporate insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Trading Up 1.7%

Shares of TSE:PEY opened at C$24.14 on Friday. The business’s 50-day moving average is C$22.50 and its 200 day moving average is C$20.40. The firm has a market capitalization of C$4.87 billion, a P/E ratio of 13.12, a P/E/G ratio of -0.46 and a beta of -0.46. Peyto Exploration & Development has a 1 year low of C$14.57 and a 1 year high of C$24.39. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

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.