Peyto Exploration & Dev (TSE:PEY) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, March 12th. They presently have a C$12.00 price objective on the stock, down from their previous price objective of C$15.00. BMO Capital Markets’ target price suggests a potential upside of 16.85% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. CIBC cut their price objective on shares of Peyto Exploration & Dev from C$14.00 to C$12.50 in a report on Tuesday, January 23rd. Eight Capital lowered their target price on shares of Peyto Exploration & Dev from C$16.25 to C$15.15 in a research report on Friday, January 12th. Raymond James Financial lowered their target price on shares of Peyto Exploration & Dev from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Monday, January 15th. Royal Bank of Canada lowered their target price on shares of Peyto Exploration & Dev from C$20.00 to C$17.00 and set an “outperform” rating on the stock in a research report on Thursday, March 1st. Finally, TD Securities lowered their price objective on shares of Peyto Exploration & Dev from C$21.00 to C$19.50 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Peyto Exploration & Dev has a consensus rating of “Buy” and a consensus target price of C$15.02.
Shares of PEY stock traded down C$0.39 on Monday, hitting C$10.27. 316,010 shares of the stock traded hands, compared to its average volume of 1,189,775. The firm has a market capitalization of $1,650.00, a PE ratio of 9.71 and a beta of -0.02. Peyto Exploration & Dev has a 1-year low of C$9.83 and a 1-year high of C$28.68.
Peyto Exploration & Dev (TSE:PEY) last issued its earnings results on Wednesday, February 28th. The company reported C$0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.26 by C$0.05. The firm had revenue of C$211.80 million for the quarter. Peyto Exploration & Dev had a net margin of 30.65% and a return on equity of 10.84%.
In other Peyto Exploration & Dev news, Director Stephen Jonathan Chetner sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of C$12.80, for a total value of C$320,000.00. Also, insider Scott Robinson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of C$10.09, for a total value of C$403,600.00. Insiders sold a total of 105,000 shares of company stock valued at $1,214,000 in the last 90 days.
About Peyto Exploration & Dev
Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Canada. The company's oil and gas properties are located in the Alberta's Deep Basin. As of December 31, 2016, it had a total proved plus probable reserves of 655 million barrels of oil equivalent.
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