National Bank Financial Weighs in on Peyto Exploration & Development Corp’s FY2018 Earnings (PEY)
Peyto Exploration & Development Corp (TSE:PEY) – Research analysts at National Bank Financial lowered their FY2018 EPS estimates for Peyto Exploration & Development in a research report issued to clients and investors on Wednesday, November 7th. National Bank Financial analyst T. Wood now forecasts that the company will post earnings per share of $0.86 for the year, down from their previous estimate of $0.99. National Bank Financial has a “C$10.49” rating and a $13.00 price objective on the stock.
A number of other brokerages also recently issued reports on PEY. Canaccord Genuity cut their target price on Peyto Exploration & Development from C$18.00 to C$16.00 in a research note on Tuesday, October 16th. Raymond James cut their target price on Peyto Exploration & Development from C$16.00 to C$15.75 in a research note on Friday, October 5th. TD Securities downgraded Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$12.00 target price for the company. in a research note on Thursday, November 8th. Finally, GMP Securities cut their target price on Peyto Exploration & Development from C$14.00 to C$13.50 in a research note on Thursday, November 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$14.20.
In other news, Director Micheal Macbean acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The stock was purchased at an average cost of C$12.13 per share, with a total value of C$242,600.00. Also, insider Scott Robinson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of C$10.99, for a total value of C$329,700.00.
Peyto Exploration & Development Company Profile
Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Canada. The company's oil and gas properties are located in the Alberta's Deep Basin. As of December 31, 2017, it had a total proved plus probable reserves of 722 million barrels of oil equivalent.
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