Peyto Exploration & Development (TSE:PEY) Price Target Raised to C$27.00

Peyto Exploration & Development (TSE:PEY) had its price objective increased by Scotiabank from C$24.00 to C$27.00 in a research note published on Wednesday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

PEY has been the topic of several other reports. Canaccord Genuity Group increased 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. Cibc Captl Mkts upgraded Peyto Exploration & Development from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. CIBC raised Peyto Exploration & Development from a “neutral” rating to an “outperform” rating and raised their price objective for the company from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and upped their target price for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. Finally, TD Securities increased their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$23.30.

Peyto Exploration & Development Stock Performance

PEY opened at C$24.14 on Wednesday. The stock has a market cap of C$4.87 billion, a P/E ratio of 13.12, a P/E/G ratio of -0.46 and a beta of -0.46. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The firm has a fifty day moving average price of C$22.50 and a 200 day moving average price of C$20.38. Peyto Exploration & Development has a 1 year low of C$14.57 and a 1 year high of C$24.39.

Insider Activity

In related news, Director Jean-Paul Henri Lachance sold 74,000 shares of the stock in a transaction on 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 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. Also, insider Riley Millar Frame acquired 11,500 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was purchased at an average price of C$22.78 per share, for a total transaction of C$261,970.00. Following the acquisition, the insider directly owned 128,877 shares in the company, valued at C$2,935,818.06. This represents a 9.80% increase in their position. Insiders sold 337,400 shares of company stock valued at $7,383,580 in the last three months. Company insiders own 2.36% of the company’s stock.

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.