Peyto Exploration & Development (TSE:PEY) Stock Price Expected to Rise, Desjardins Analyst Says

Peyto Exploration & Development (TSE:PEY) had its price objective raised by stock analysts at Desjardins from C$16.50 to C$17.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price target indicates a potential upside of 5.26% from the company’s previous close.

A number of other research firms have also commented on PEY. CIBC lifted their price objective on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. TD Securities increased their target price on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, BMO Capital Markets raised their target price on Peyto Exploration & Development from C$17.50 to C$18.50 in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$18.67.

Peyto Exploration & Development Trading Down 0.7 %

TSE:PEY traded down C$0.11 on Thursday, reaching C$16.15. 671,936 shares of the company’s stock were exchanged, compared to its average volume of 849,480. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. Peyto Exploration & Development has a 52-week low of C$13.40 and a 52-week high of C$17.57. The firm has a market capitalization of C$3.21 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The business has a fifty day moving average of C$16.23 and a 200-day moving average of C$15.75.

Insiders Place Their Bets

In related news, Senior Officer Tavis Aaron Carlson acquired 3,300 shares of Peyto Exploration & Development stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of C$15.38 per share, for a total transaction of C$50,754.00. Also, Director Jean-Paul Henri Lachance acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of C$15.85 per share, for a total transaction of C$79,250.00. Over the last quarter, insiders acquired 25,750 shares of company stock worth $411,718 and sold 208,306 shares worth $3,478,583. 2.36% of the stock is currently owned by company 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.