Peyto Exploration & Development (TSE:PEY) PT Raised to C$17.00

Peyto Exploration & Development (TSE:PEY) had its price target upped by investment analysts at Scotiabank from C$13.00 to C$17.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 77.45% from the stock’s previous close.

Other equities analysts have also issued reports about the company. CIBC reaffirmed a “neutral” rating and set a C$8.25 target price on shares of Peyto Exploration & Development in a research report on Friday, August 13th. TD Securities upped their target price on Peyto Exploration & Development from C$6.50 to C$10.00 and gave the stock a “na” rating in a research report on Tuesday, June 29th. National Bank Financial upped their price target on Peyto Exploration & Development to C$8.50 and gave the stock an “outperform” rating in a report on Thursday, June 17th. National Bankshares upped their price target on Peyto Exploration & Development from C$8.00 to C$8.50 in a report on Thursday, June 17th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Peyto Exploration & Development in a report on Thursday, September 16th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Peyto Exploration & Development has a consensus rating of “Buy” and a consensus price target of C$8.61.

PEY traded up C$0.17 during trading on Thursday, hitting C$9.58. The company’s stock had a trading volume of 909,407 shares, compared to its average volume of 772,374. Peyto Exploration & Development has a twelve month low of C$2.35 and a twelve month high of C$10.43. The company has a quick ratio of 0.33, a current ratio of 0.43 and a debt-to-equity ratio of 77.00. The stock’s fifty day moving average price is C$8.04 and its 200-day moving average price is C$6.92. The firm has a market capitalization of C$1.59 billion and a P/E ratio of 15.06.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings results on Wednesday, August 11th. The company reported C$0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.11 by C($0.03). The business had revenue of C$140.46 million during the quarter. Equities research analysts expect that Peyto Exploration & Development will post 1.4 EPS for the current fiscal year.

In other news, Director Stephen Jonathan Chetner sold 3,993 shares of the stock in a transaction on Monday, September 13th. The stock was sold at an average price of C$7.49, for a total transaction of C$29,906.37. Following the completion of the transaction, the director now owns 12,859 shares in the company, valued at approximately C$96,310.05. Also, Senior Officer Scott Robinson purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, October 13th. The shares were purchased at an average price of C$9.42 per share, with a total value of C$47,100.00. Following the purchase, the insider now directly owns 396,507 shares in the company, valued at approximately C$3,735,095.94. In the last 90 days, insiders acquired 47,000 shares of company stock valued at $351,708 and sold 118,558 shares valued at $861,117.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin of Alberta. As of December 31, 2020, it had a total proved plus probable reserves of 834 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.

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Analyst Recommendations for Peyto Exploration & Development (TSE:PEY)

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