Brokerages Set Peyto Exploration & Development Corp. (TSE:PEY) Target Price at C$18.67

Peyto Exploration & Development Corp. (TSE:PEY) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$18.78.

A number of equities research analysts have recently issued reports on the stock. CIBC boosted their target price on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a research report on Friday, January 17th. BMO Capital Markets raised shares of Peyto Exploration & Development from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$18.50 to C$19.50 in a report on Monday, March 24th. TD Securities raised their target price on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Desjardins increased their price target on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a research report on Thursday, March 13th.

Insider Buying and Selling

In related news, Senior Officer Tavis Aaron Carlson purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of C$17.17 per share, with a total value of C$34,340.00. Also, Senior Officer Todd Burdick acquired 2,150 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average cost of C$16.35 per share, with a total value of C$35,153.58. In the last ninety days, insiders acquired 14,150 shares of company stock worth $230,994 and sold 203,509 shares worth $3,402,675. 2.36% of the stock is owned by corporate insiders.

Peyto Exploration & Development Stock Performance

PEY opened at C$18.10 on Monday. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The business has a fifty day simple moving average of C$16.33 and a 200 day simple moving average of C$15.97. Peyto Exploration & Development has a 1 year low of C$13.40 and a 1 year high of C$18.58. The company has a market capitalization of C$3.59 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

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.