Peyto Exploration & Development (TSE:PEY) Price Target Cut to C$17.00

Peyto Exploration & Development (TSE:PEY) had its price objective dropped by equities researchers at CIBC from C$17.50 to C$17.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 14.09% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Scotiabank upgraded Peyto Exploration & Development to a “strong-buy” rating in a report on Friday, June 14th. Canaccord Genuity Group increased their target price on shares of Peyto Exploration & Development from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus boosted their price target on shares of Peyto Exploration & Development from C$16.25 to C$18.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Desjardins increased their price objective on Peyto Exploration & Development from C$13.50 to C$14.50 and gave the stock a “buy” rating in a report on Thursday, May 16th. Finally, TD Securities raised Peyto Exploration & Development to a “strong-buy” rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$16.55.

Peyto Exploration & Development Trading Up 0.5 %

Shares of Peyto Exploration & Development stock traded up C$0.07 on Monday, reaching C$14.90. 393,288 shares of the company were exchanged, compared to its average volume of 836,055. Peyto Exploration & Development has a fifty-two week low of C$11.04 and a fifty-two week high of C$15.99. The firm has a market capitalization of C$2.90 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of -0.46 and a beta of 1.85. The company has a current ratio of 1.55, a quick ratio of 0.32 and a debt-to-equity ratio of 50.61. The stock has a fifty day moving average price of C$15.05 and a 200-day moving average price of C$14.38.

Insider Activity

In other Peyto Exploration & Development news, Senior Officer Lee Russell Curran sold 48,867 shares of Peyto Exploration & Development stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of C$15.71, for a total transaction of C$767,700.57. In other Peyto Exploration & Development news, Senior Officer Lee Russell Curran sold 48,867 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of C$15.71, for a total transaction of C$767,700.57. Also, Senior Officer Todd Burdick sold 9,728 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of C$15.43, for a total value of C$150,103.04. Over the last ninety days, insiders have bought 36,570 shares of company stock worth $551,795 and have sold 195,319 shares worth $2,982,499. 2.37% of the stock is currently owned by company insiders.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.