Peyto Exploration & Development (TSE:PEY) Price Target Raised to C$27.00

Peyto Exploration & Development (TSE:PEY) had its price objective lifted by Royal Bank Of Canada from C$24.00 to C$27.00 in a report released on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other analysts have also recently weighed in on the company. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$23.50 to C$24.50 in a research report on Monday, November 24th. TD Securities lifted their price target on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a “hold” rating to an “outperform” rating and increased their price objective for the stock from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Scotiabank raised their price objective on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group upped their target price on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. One equities research 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 company’s stock. According to data from MarketBeat.com, Peyto Exploration & Development has an average rating of “Moderate Buy” and an average target price of C$23.90.

Peyto Exploration & Development Trading Down 3.1%

TSE:PEY opened at C$25.95 on Friday. The company has a 50-day moving average price of C$23.71 and a 200-day moving average price of C$21.26. The stock has a market cap of C$5.24 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of -0.46 and a beta of -0.21. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. Peyto Exploration & Development has a 12 month low of C$14.60 and a 12 month high of C$27.19.

Insider Buying and Selling

In related news, Director Jean-Paul Henri Lachance sold 74,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 27th. The shares were sold at an average price of C$22.00, for a total value of C$1,628,000.00. Following the sale, the director owned 501,731 shares in the company, valued at approximately C$11,038,082. This trade represents a 12.85% decrease in their ownership of the stock. Also, insider Riley Millar Frame bought 11,500 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were bought at an average price of C$22.78 per share, with a total value of C$261,970.00. Following the completion of the purchase, the insider owned 128,877 shares in the company, valued at approximately C$2,935,818.06. The trade was a 9.80% increase in their position. 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.