Peyto Exploration & Development (TSE:PEY) Price Target Raised to C$30.00

Peyto Exploration & Development (TSE:PEY) had its price objective boosted by equities researchers at National Bank Financial from C$29.00 to C$30.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price points to a potential upside of 21.46% from the company’s previous close.

A number of other research firms have also issued reports on PEY. Desjardins upped their target price on shares of Peyto Exploration & Development from C$27.00 to C$31.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Scotiabank upgraded shares of Peyto Exploration & Development to a “hold” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Peyto Exploration & Development currently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.64.

Peyto Exploration & Development Stock Performance

Shares of PEY stock traded up C$0.41 during mid-day trading on Wednesday, reaching C$24.70. The stock had a trading volume of 364,013 shares, compared to its average volume of 950,542. The business’s fifty day moving average is C$25.21 and its 200-day moving average is C$25.14. The firm has a market cap of C$5.06 billion, a price-to-earnings ratio of 10.69, a PEG ratio of -0.46 and a beta of -0.50. The company has a current ratio of 1.37, a quick ratio of 0.32 and a debt-to-equity ratio of 36.62. Peyto Exploration & Development has a 1-year low of C$17.92 and a 1-year high of C$29.22.

Peyto Exploration & Development (TSE:PEY) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.82 earnings per share for the quarter. Peyto Exploration & Development had a return on equity of 16.78% and a net margin of 40.47%.The company had revenue of C$426.40 million during the quarter.

Insider Buying and Selling

In other Peyto Exploration & Development news, insider Michael Eugene Rees sold 18,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of C$24.42, for a total transaction of C$439,560.00. Following the transaction, the insider directly owned 64,760 shares in the company, valued at approximately C$1,581,439.20. This represents a 21.75% decrease in their ownership of the stock. Also, insider Riley Millar Frame acquired 3,750 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average cost of C$23.84 per share, with a total value of C$89,400.00. Following the completion of the purchase, the insider directly owned 142,204 shares in the company, valued at C$3,390,143.36. This represents a 2.71% increase in their ownership of the stock. In the last three months, insiders have acquired 10,300 shares of company stock worth $245,358 and have sold 331,542 shares worth $8,414,041. 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.