Peyto Exploration & Development (TSE:PEY) Stock Price Expected to Rise, CIBC Analyst Says

Peyto Exploration & Development (TSE:PEY) had its target price upped by equities research analysts at CIBC from C$17.00 to C$17.50 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 7.69% from the company’s previous close.

Several other analysts have also recently weighed in on PEY. Atlantic Securities lifted their price target on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Monday, October 7th. BMO Capital Markets lifted their price objective on Peyto Exploration & Development from C$17.50 to C$18.50 in a report on Tuesday. National Bankshares lifted their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. Finally, TD Securities dropped their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$17.85.

Peyto Exploration & Development Stock Performance

TSE:PEY traded down C$0.14 during mid-day trading on Friday, hitting C$16.25. 676,160 shares of the stock were exchanged, compared to its average volume of 837,433. The stock has a market capitalization of C$3.18 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The firm’s 50-day simple moving average is C$16.41 and its 200 day simple moving average is C$15.35. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. Peyto Exploration & Development has a fifty-two week low of C$12.41 and a fifty-two week high of C$17.57.

Insider Buying and Selling

In other Peyto Exploration & Development news, Senior Officer Lee Russell Curran sold 31,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$17.04, for a total value of C$528,314.40. Also, Senior Officer Tavis Aaron Carlson purchased 2,000 shares of Peyto Exploration & Development stock in a transaction on Monday, December 30th. The stock was bought at an average price of C$17.17 per share, for a total transaction of C$34,340.00. In the last 90 days, insiders have bought 20,860 shares of company stock worth $328,142 and have sold 352,562 shares worth $5,843,683. 2.36% of the stock is currently owned by corporate insiders.

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.