Scotiabank Raises Peyto Exploration & Development (TSE:PEY) Price Target to C$13.00

Peyto Exploration & Development (TSE:PEY) had its target price lifted by Scotiabank from C$12.00 to C$13.00 in a report released on Friday morning, BayStreet.CA reports.

Several other analysts also recently weighed in on PEY. Raymond James boosted their target price on shares of Peyto Exploration & Development from C$7.00 to C$9.00 and gave the stock an outperform rating in a research report on Wednesday, June 30th. CIBC reiterated a neutral rating and issued a C$8.25 target price on shares of Peyto Exploration & Development in a research note on Friday, August 13th. BMO Capital Markets boosted their target price on shares of Peyto Exploration & Development to C$8.00 in a research note on Thursday, August 12th. National Bank Financial boosted their target price on shares of Peyto Exploration & Development to C$8.50 and gave the company an outperform rating in a research note on Thursday, June 17th. Finally, Canaccord Genuity reiterated a buy rating on shares of Peyto Exploration & Development in a research note on Thursday, September 16th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of C$8.25.

TSE:PEY opened at C$8.87 on Friday. The company has a market cap of C$1.47 billion and a PE ratio of 13.99. Peyto Exploration & Development has a twelve month low of C$2.32 and a twelve month high of C$9.65. The company has a current ratio of 0.43, a quick ratio of 0.33 and a debt-to-equity ratio of 77.00. The company’s 50 day moving average is C$7.18 and its two-hundred day moving average is C$6.46.

Peyto Exploration & Development (TSE:PEY) last released its earnings results on Wednesday, August 11th. The company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.11 by C($0.03). The business had revenue of C$140.46 million for the quarter. As a group, analysts expect that Peyto Exploration & Development will post 1.4000001 EPS for the current fiscal year.

In other Peyto Exploration & Development news, Senior Officer Lee Russell Curran sold 7,223 shares of the stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of C$9.22, for a total transaction of C$66,592.45. Following the completion of the transaction, the insider now owns 133,349 shares of the company’s stock, valued at C$1,229,411.11. Also, Senior Officer Scott Robinson bought 5,000 shares of the stock in a transaction on Friday, June 25th. The shares were bought at an average cost of C$7.30 per share, with a total value of C$36,500.00. Following the purchase, the insider now owns 313,507 shares of the company’s stock, valued at C$2,288,601.10. Over the last quarter, insiders bought 43,000 shares of company stock valued at $299,900 and sold 125,144 shares valued at $908,718.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin of Alberta. As of December 31, 2020, it had a total proved plus probable reserves of 834 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.

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Analyst Recommendations for Peyto Exploration & Development (TSE:PEY)

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