Peyto Exploration & Development (TSE:PEY) Rating Increased to Strong-Buy at Scotiabank

Scotiabank upgraded shares of Peyto Exploration & Development (TSE:PEY) to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports.

PEY has been the topic of several other research reports. BMO Capital Markets lifted their price target on Peyto Exploration & Development from C$14.00 to C$16.50 and gave the company a market perform rating in a research note on Monday, March 11th. Desjardins lifted their target price on Peyto Exploration & Development from C$13.50 to C$14.50 and gave the company a buy rating in a research report on Thursday, May 16th. CIBC increased their target price on shares of Peyto Exploration & Development from C$16.00 to C$17.50 and gave the stock an outperform rating in a report on Wednesday, May 15th. ATB Capital set a C$15.00 price target on shares of Peyto Exploration & Development and gave the company an outperform rating in a report on Friday, February 16th. Finally, Canaccord Genuity Group upped their price objective on shares of Peyto Exploration & Development from C$17.00 to C$18.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$16.59.

Peyto Exploration & Development Stock Performance

TSE PEY opened at C$14.70 on Friday. Peyto Exploration & Development has a 1 year low of C$10.38 and a 1 year high of C$15.99. The firm has a market capitalization of C$2.86 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of -0.46 and a beta of 1.85. The company has a current ratio of 1.55, a quick ratio of 0.32 and a debt-to-equity ratio of 50.61. The firm’s 50 day simple moving average is C$15.28 and its 200 day simple moving average is C$14.02.

Insider Buying and Selling

In other Peyto Exploration & Development news, Senior Officer Lee Russell Curran sold 28,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$14.54, for a total value of C$407,120.00. In other Peyto Exploration & Development news, Senior Officer Lee Russell Curran sold 28,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$14.54, for a total transaction of C$407,120.00. Also, Director Jean-Paul Henri Lachance sold 35,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$14.55, for a total transaction of C$509,250.00. Insiders sold a total of 179,662 shares of company stock valued at $2,740,210 in the last three months. Insiders own 2.37% of the company’s stock.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.