Peyto Exploration & Development (TSE:PEY) Price Target Raised to C$25.00

Peyto Exploration & Development (TSE:PEY) had its target price lifted by TD Securities from C$23.00 to C$25.00 in a research note released on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently commented on PEY. CIBC raised their price target on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a report on Wednesday, October 15th. Desjardins upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$23.50 to C$24.50 in a research report on Monday, November 24th. Finally, Canaccord Genuity Group lifted their price objective on Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Peyto Exploration & Development presently has an average rating of “Moderate Buy” and a consensus price target of C$22.44.

Peyto Exploration & Development Price Performance

PEY stock opened at C$23.16 on Thursday. The firm has a 50 day moving average of C$20.58 and a 200-day moving average of C$19.61. The firm has a market capitalization of C$4.68 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of -0.46 and a beta of -0.28. Peyto Exploration & Development has a 12 month low of C$14.57 and a 12 month high of C$23.74. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96.

Insider Buying and Selling at Peyto Exploration & Development

In other news, insider Michael Richard Collens sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of C$21.96, for a total value of C$285,480.00. Following the transaction, the insider owned 25,000 shares in the company, valued at approximately C$549,000. This trade represents a 34.21% decrease in their ownership of the stock. Also, insider Lee Russell Curran sold 28,000 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of C$22.27, for a total transaction of C$623,560.00. Following the completion of the sale, the insider directly owned 421,844 shares in the company, valued at approximately C$9,394,465.88. This trade represents a 6.22% decrease in their position. In the last ninety days, insiders have sold 101,000 shares of company stock valued at $2,242,120. Corporate insiders own 2.36% of the company’s stock.

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.