Royal Bank Of Canada Forecasts Strong Price Appreciation for Peyto Exploration & Development (TSE:PEY) Stock

Peyto Exploration & Development (TSE:PEY) had its price objective boosted by analysts at Royal Bank Of Canada from C$24.00 to C$27.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 4.05% from the company’s current price.

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

Peyto Exploration & Development Trading Down 3.1%

PEY 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 stock has a market capitalization of C$5.24 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of -0.46 and a beta of -0.21. 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 firm’s fifty day simple moving average is C$23.71 and its two-hundred day simple moving average is C$21.24.

Insider Buying and Selling at Peyto Exploration & Development

In related news, insider Michael Richard Collens sold 13,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of C$21.96, for a total value of C$285,480.00. Following the transaction, the insider owned 25,000 shares of the company’s stock, valued at C$549,000. This represents a 34.21% decrease in their ownership of the stock. Also, insider Riley Millar Frame acquired 11,500 shares of Peyto Exploration & Development stock in a transaction on Monday, December 15th. The shares were purchased at an average price of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the acquisition, the insider directly owned 128,877 shares in the company, valued at C$2,935,818.06. This trade represents a 9.80% increase in their ownership of the stock. In the last quarter, insiders sold 175,000 shares of company stock valued at $3,870,120. 2.36% of the stock is owned by corporate 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.