Peyto Exploration & Development (TSE:PEY) PT Raised to C$17.00 at Canaccord Genuity Group

Peyto Exploration & Development (TSE:PEY) had its price objective boosted by analysts at Canaccord Genuity Group from C$16.50 to C$17.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 13.79% from the company’s previous close.

PEY has been the subject of a number of other reports. National Bankshares dropped their price target on Peyto Exploration & Development from C$17.50 to C$15.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Stifel Nicolaus raised their price target on Peyto Exploration & Development from C$16.00 to C$16.50 in a report on Monday, March 11th. Scotiabank lowered their target price on Peyto Exploration & Development from C$23.00 to C$20.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. ATB Capital set a C$15.00 target price on Peyto Exploration & Development and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets lifted their target price on Peyto Exploration & Development from C$14.00 to C$16.50 and gave the company a “market perform” rating in a research note on Monday, March 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Peyto Exploration & Development currently has an average rating of “Moderate Buy” and an average target price of C$16.14.

Peyto Exploration & Development Price Performance

Shares of Peyto Exploration & Development stock traded up C$0.26 during midday trading on Wednesday, hitting C$14.94. 1,053,523 shares of the company were exchanged, compared to its average volume of 797,047. The company has a debt-to-equity ratio of 51.67, a current ratio of 1.75 and a quick ratio of 0.32. The firm has a market cap of C$2.89 billion, a P/E ratio of 9.22, a PEG ratio of -0.46 and a beta of 1.83. Peyto Exploration & Development has a 52 week low of C$10.38 and a 52 week high of C$15.68. The firm has a 50 day simple moving average of C$14.36 and a 200-day simple moving average of C$13.58.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 35,000 shares of Peyto Exploration & Development stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$14.55, for a total transaction of C$509,250.00. In related news, Director Stephen Jonathan Chetner sold 2,700 shares of Peyto Exploration & Development stock in a transaction dated Monday, March 11th. The stock was sold at an average price of C$14.50, for a total value of C$39,150.00. Also, Director Jean-Paul Henri Lachance sold 35,000 shares of Peyto Exploration & Development stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$14.55, for a total value of C$509,250.00. Over the last ninety days, insiders have sold 164,700 shares of company stock worth $2,298,340. Corporate insiders own 2.51% of the company’s stock.

Peyto Exploration & Development Company Profile

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.