TD Cowen Downgrades Peyto Exploration & Development (OTCMKTS:PEYUF) to Hold

Peyto Exploration & Development (OTCMKTS:PEYUF) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat.com reports.

A number of other equities research analysts have also recently issued reports on PEYUF. Desjardins upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Scotiabank restated an “outperform” rating on shares of Peyto Exploration & Development in a research report on Wednesday, January 21st. TD Securities downgraded shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 15th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Price Performance

Shares of OTCMKTS PEYUF opened at $18.95 on Friday. Peyto Exploration & Development has a 12-month low of $10.14 and a 12-month high of $19.86. The stock’s 50 day simple moving average is $17.28 and its 200 day simple moving average is $15.35.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. is a Calgary-based Canadian energy company engaged in the exploration, development and production of natural gas and natural gas liquids. The company focuses on exploiting liquids-rich natural gas opportunities in the Deep Basin and Brazeau areas of west central Alberta. Peyto’s integrated business model encompasses land acquisition, well planning, drilling, completion and production operations, supported by in-house technical, engineering and operations teams.

Since its incorporation in 1998, Peyto has concentrated its activities entirely within Alberta’s prolific Montney, Falher and Notikewin formations.