Peyto Exploration & Development (TSE:PEY) Rating Increased to Strong-Buy at Cibc Captl Mkts

Peyto Exploration & Development (TSE:PEY) was upgraded by stock analysts at Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on PEY. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their price target for the company from C$23.50 to C$24.50 in a report on Monday, November 24th. CIBC upgraded Peyto Exploration & Development from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$21.00 to C$25.00 in a research report on Tuesday. Canaccord Genuity Group upped their target price on Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Finally, TD Securities lifted their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$22.89.

Peyto Exploration & Development Stock Performance

TSE:PEY opened at C$22.47 on Tuesday. The business has a 50 day moving average of C$22.13 and a 200 day moving average of C$20.15. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. Peyto Exploration & Development has a 1-year low of C$14.57 and a 1-year high of C$23.74. The company has a market capitalization of C$4.54 billion, a price-to-earnings ratio of 12.21, a PEG ratio of -0.46 and a beta of -0.46.

Insider Activity

In other Peyto Exploration & Development news, insider Todd Burdick sold 52,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of C$22.21, for a total transaction of C$1,154,920.00. Following the completion of the transaction, the insider owned 208,206 shares in the company, valued at C$4,624,255.26. The trade was a 19.98% decrease in their ownership of the stock. Also, Director Jean-Paul Henri Lachance sold 74,000 shares of the firm’s stock in a transaction on Thursday, November 27th. The stock was sold at an average price of C$22.00, for a total transaction of C$1,628,000.00. Following the completion of the transaction, the director directly owned 501,731 shares of the company’s stock, valued at approximately C$11,038,082. This represents a 12.85% decrease in their position. In the last three months, insiders have sold 337,400 shares of company stock worth $7,383,580. Company 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.