Scotiabank Raises Peyto Exploration & Development (TSE:PEY) Price Target to C$22.00

Peyto Exploration & Development (TSE:PEYGet Free Report) had its price objective lifted by equities researchers at Scotiabank from C$20.00 to C$22.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 45.12% from the stock’s previous close.

A number of other research firms also recently issued reports on PEY. Canaccord Genuity Group boosted their price target on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. ATB Capital set a C$15.00 target price on Peyto Exploration & Development and gave the company an “outperform” rating in a research report on Friday, February 16th. Desjardins lowered their price target on Peyto Exploration & Development from C$14.00 to C$13.50 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. BMO Capital Markets boosted their price objective on Peyto Exploration & Development from C$14.00 to C$16.50 and gave the company a “market perform” rating in a report on Monday, March 11th. Finally, Stifel Nicolaus raised their target price on Peyto Exploration & Development from C$16.25 to C$18.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$16.50.

Check Out Our Latest Report on PEY

Peyto Exploration & Development Trading Down 0.4 %

Shares of TSE PEY traded down C$0.06 during mid-day trading on Wednesday, reaching C$15.16. 952,516 shares of the company’s stock were exchanged, compared to its average volume of 797,781. The company’s 50-day moving average is C$15.00 and its 200-day moving average is C$13.76. The company has a debt-to-equity ratio of 51.67, a quick ratio of 0.32 and a current ratio of 1.75. The firm has a market capitalization of C$2.95 billion, a price-to-earnings ratio of 9.33, a PEG ratio of -0.46 and a beta of 1.85. Peyto Exploration & Development has a 52-week low of C$10.38 and a 52-week high of C$15.83.

Insider Buying and Selling

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$14.55, for a total transaction of C$509,250.00. In other news, Senior Officer Lee Russell Curran sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$14.54, for a total transaction of C$407,120.00. Also, Director Jean-Paul Henri Lachance sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 108,700 shares of company stock worth $1,573,840. Company insiders own 2.42% of the company’s stock.

About Peyto Exploration & Development

(Get Free Report)

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.

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

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