Peyto Exploration & Development Corp. (TSE:PEY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Peyto Exploration & Development Corp. (TSE:PEY) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$24.55.

PEY has been the topic of a number of research reports. Canadian Imperial Bank of Commerce upgraded shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted 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. Canaccord Genuity Group upped their price objective on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. TD Securities cut shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price objective on the stock. in a research report on Friday, February 20th. Finally, Desjardins raised their target price on Peyto Exploration & Development from C$27.00 to C$31.00 and gave the company a “buy” rating in a research note on Thursday.

Insiders Place Their Bets

In other news, insider Riley Millar Frame purchased 11,500 shares of the business’s stock in a transaction on Monday, December 15th. The shares were acquired at an average price of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the acquisition, the insider owned 128,877 shares in the company, valued at approximately C$2,935,818.06. The trade was a 9.80% increase in their ownership of the stock. Company insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Stock Performance

Shares of PEY stock opened at C$28.98 on Friday. The company has a market cap of C$5.85 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of -0.46 and a beta of -0.20. Peyto Exploration & Development has a 52 week low of C$14.60 and a 52 week high of C$29.22. The company has a quick ratio of 0.32, a current ratio of 0.98 and a debt-to-equity ratio of 41.44. The firm has a 50 day moving average of C$25.03 and a 200-day moving average of C$22.06.

Peyto Exploration & Development Company Profile

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.