Canaccord Genuity Group Boosts Peyto Exploration & Development (TSE:PEY) Price Target to C$21.50

Peyto Exploration & Development (TSE:PEY) had its price objective upped by stock analysts at Canaccord Genuity Group from C$20.00 to C$21.50 in a research note issued to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential downside of 0.60% from the company’s current price.

Several other brokerages have also recently commented on PEY. TD Securities lifted their price target on shares of Peyto Exploration & Development from C$21.00 to C$23.00 in a research report on Friday. CIBC increased their price objective on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$21.56.

Peyto Exploration & Development Price Performance

PEY traded up C$0.85 during trading on Friday, hitting C$21.63. The company’s stock had a trading volume of 1,035,399 shares, compared to its average volume of 874,808. The firm’s 50 day moving average price is C$19.38 and its two-hundred day moving average price is C$19.18. The stock has a market capitalization of C$4.34 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of -0.46 and a beta of -0.16. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. Peyto Exploration & Development has a 12 month low of C$14.57 and a 12 month high of C$21.98.

Insider Activity

In other news, insider Riley Millar Frame sold 47,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of C$18.45, for a total transaction of C$867,239.30. Following the transaction, the insider directly owned 127,527 shares of the company’s stock, valued at C$2,353,115.45. This represents a 26.93% decrease in their ownership of the stock. Also, insider Michael Richard Collens sold 26,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of C$18.80, for a total value of C$488,800.00. Following the completion of the sale, the insider directly owned 25,000 shares of the company’s stock, valued at approximately C$470,000. This trade represents a 50.98% decrease in their ownership of the stock. Insiders bought a total of 14,450 shares of company stock worth $267,380 over the last quarter. 2.36% of the stock is currently owned by corporate insiders.

Peyto Exploration & Development Company Profile

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.