Peyto Exploration & Development (TSE:PEY) Cut to “Hold” at TD Securities

TD Securities cut shares of Peyto Exploration & Development (TSE:PEY) from a buy rating to a hold rating in a report released on Friday morning, MarketBeat reports. TD Securities currently has C$25.00 target price on the stock.

Other research analysts have also issued reports about the company. Scotiabank boosted their price target on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce upgraded shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Royal Bank Of Canada raised their price target on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company a “sector perform” rating in a report on Friday. Desjardins upgraded shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. Finally, Canaccord Genuity Group raised their target price on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.90.

Peyto Exploration & Development Stock Performance

Shares of TSE:PEY opened at C$25.95 on Friday. The firm has a 50 day moving average of C$23.71 and a 200 day moving average of C$21.26. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. The company has a market capitalization of C$5.24 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of -0.46 and a beta of -0.21. Peyto Exploration & Development has a 52 week low of C$14.60 and a 52 week high of C$27.19.

Insider Transactions at Peyto Exploration & Development

In other news, insider Riley Millar Frame acquired 11,500 shares of Peyto Exploration & Development stock in a transaction dated Monday, December 15th. The stock was purchased at an average cost of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the purchase, the insider directly owned 128,877 shares in the company, valued at C$2,935,818.06. This trade represents a 9.80% increase in their position. Also, Director Jean-Paul Henri Lachance sold 74,000 shares of Peyto Exploration & Development stock in a transaction dated Thursday, November 27th. The stock was sold at an average price of C$22.00, for a total value of C$1,628,000.00. Following the sale, the director directly owned 501,731 shares of the company’s stock, valued at C$11,038,082. This trade represents a 12.85% decrease in their position. 2.36% of the stock is currently owned by corporate insiders.

About Peyto Exploration & Development

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.