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

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

A number of brokerages have recently commented on PEY. TD Securities boosted their price target on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock 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 target price for the stock from C$23.50 to C$24.50 in a report on Monday, November 24th. Scotiabank boosted their price objective on shares of 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. Canaccord Genuity Group increased their target price on Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. Finally, Canadian Imperial Bank of Commerce raised Peyto Exploration & Development from a “hold” 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.

Peyto Exploration & Development Stock Up 0.6%

Shares of Peyto Exploration & Development stock opened at C$26.77 on Tuesday. Peyto Exploration & Development has a 1 year low of C$14.60 and a 1 year high of C$27.19. The firm has a market cap of C$5.40 billion, a price-to-earnings ratio of 14.55, a PEG ratio of -0.46 and a beta of -0.21. The company has a 50-day moving average of C$23.66 and a 200 day moving average of C$21.18. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Insider Buying and Selling

In other news, insider Lee Russell Curran sold 28,000 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$22.27, for a total value of C$623,560.00. Following the completion of the sale, the insider directly owned 421,844 shares in the company, valued at C$9,394,465.88. The trade was a 6.22% 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 sold 175,000 shares of company stock worth $3,870,120 in the last three months. 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.