Desjardins Issues Positive Forecast for Peyto Exploration & Development (TSE:PEY) Stock Price

Peyto Exploration & Development (TSE:PEY) had its price target hoisted by equities research analysts at Desjardins from C$27.00 to C$31.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 8.13% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. TD Securities cut shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price target for the company. in a research note on Friday, February 20th. Royal Bank Of Canada increased their target price on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and raised their target price for the company from C$21.00 to C$25.00 in a research report on Tuesday, January 13th. Scotiabank lifted their price target on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Canaccord Genuity Group boosted their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Peyto Exploration & Development currently has a consensus rating of “Moderate Buy” and an average target price of C$24.55.

Peyto Exploration & Development Stock Up 2.3%

Shares of TSE:PEY traded up C$0.64 during mid-day trading on Thursday, reaching C$28.67. 765,953 shares of the stock were exchanged, compared to its average volume of 1,058,439. The stock’s 50 day simple moving average is C$24.78 and its 200-day simple moving average is C$21.94. Peyto Exploration & Development has a one year low of C$14.60 and a one year high of C$29.00. The company has a market cap of C$5.79 billion, a P/E ratio of 15.58, a P/E/G ratio of -0.46 and a beta of -0.20. The company has a quick ratio of 0.32, a current ratio of 0.91 and a debt-to-equity ratio of 44.84.

Insider Activity at Peyto Exploration & Development

In other news, insider Riley Millar Frame bought 11,500 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average cost of C$22.78 per share, with a total value of C$261,970.00. Following the completion of the purchase, the insider owned 128,877 shares of the company’s stock, valued at C$2,935,818.06. This represents a 9.80% increase in their ownership of the stock. 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.