Peyto Exploration & Development (TSE:PEY) Stock Rating Lowered by TD Securities

Peyto Exploration & Development (TSE:PEY) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat reports. They currently have a C$25.00 target price on the stock. TD Securities’ price target would suggest a potential downside of 3.66% from the company’s current price.

Several other equities analysts also recently weighed in on PEY. Desjardins upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their price target for the company from C$23.50 to C$24.50 in a report on Monday, November 24th. Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$21.00 to C$25.00 in a research report on Tuesday, January 13th. Scotiabank raised their price objective on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Canaccord Genuity Group lifted their target price on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Finally, Royal Bank Of Canada upped their target price on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.90.

Peyto Exploration & Development Stock Performance

Peyto Exploration & Development stock opened at C$25.95 on Friday. Peyto Exploration & Development has a twelve month low of C$14.60 and a twelve month high of C$27.19. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. The company has a market capitalization of C$5.24 billion, a P/E ratio of 14.10, a PEG ratio of -0.46 and a beta of -0.21. The stock’s 50 day moving average is C$23.71 and its 200 day moving average is C$21.24.

Insiders Place Their Bets

In other news, insider Michael Richard Collens sold 13,000 shares of Peyto Exploration & Development stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 25,000 shares in the company, valued at C$549,000. The trade was a 34.21% decrease in their ownership of the stock. Also, insider Riley Millar Frame acquired 11,500 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were bought at an average cost of C$22.78 per share, with a total value of C$261,970.00. Following the completion of the acquisition, the insider directly owned 128,877 shares of the company’s stock, valued at C$2,935,818.06. The trade was a 9.80% increase in their ownership of the stock. Insiders have sold 175,000 shares of company stock worth $3,870,120 in the last quarter. Insiders own 2.36% of the company’s stock.

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.