Peyto Exploration & Development (TSE:PEY) Upgraded by BMO Capital Markets to “Outperform” Rating

Peyto Exploration & Development (TSE:PEY) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a C$19.50 target price on the stock, up from their prior target price of C$18.50. BMO Capital Markets’ price objective would suggest a potential upside of 8.64% from the company’s previous close.

Several other analysts have also weighed in on PEY. TD Securities upped their target price on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, February 21st. Desjardins boosted their price objective on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a report on Thursday, March 13th. Finally, CIBC upped their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$18.78.

Peyto Exploration & Development Stock Performance

Peyto Exploration & Development stock traded up C$0.54 during midday trading on Monday, hitting C$17.95. 1,023,926 shares of the company’s stock were exchanged, compared to its average volume of 882,101. Peyto Exploration & Development has a 12-month low of C$13.40 and a 12-month high of C$18.30. The firm’s 50 day simple moving average is C$16.18 and its 200 day simple moving average is C$15.86. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. The stock has a market cap of C$3.56 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

Insider Buying and Selling

In related news, Director Jean-Paul Henri Lachance acquired 5,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of C$15.85 per share, with a total value of C$79,250.00. Also, Senior Officer Todd Burdick sold 24,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of C$17.16, for a total transaction of C$411,888.00. Over the last three months, insiders have bought 14,150 shares of company stock valued at $230,994 and have sold 203,509 shares valued at $3,402,675. 2.36% of the stock is owned by company insiders.

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.