Peyto Exploration & Development (TSE:PEY) Price Target Raised to C$30.00

Peyto Exploration & Development (TSE:PEY) had its price objective increased by National Bank Financial from C$29.00 to C$30.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 21.46% from the stock’s previous close.

Several other brokerages have also commented on PEY. Scotiabank upgraded shares of Peyto Exploration & Development to a “hold” rating in a report on Friday, June 26th. Desjardins upped their target price on shares of Peyto Exploration & Development from C$27.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Peyto Exploration & Development currently has an average rating of “Moderate Buy” and an average target price of C$26.64.

Peyto Exploration & Development Trading Up 1.7%

Shares of TSE PEY traded up C$0.41 during midday trading on Wednesday, reaching C$24.70. The company had a trading volume of 364,013 shares, compared to its average volume of 950,542. The firm’s fifty day moving average price is C$25.21 and its 200-day moving average price is C$25.14. The company has a quick ratio of 0.32, a current ratio of 1.37 and a debt-to-equity ratio of 36.62. Peyto Exploration & Development has a one year low of C$17.92 and a one year high of C$29.22. The stock has a market cap of C$5.06 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of -0.46 and a beta of -0.50.

Peyto Exploration & Development (TSE:PEY) last issued its earnings results on Tuesday, May 12th. The company reported C$0.82 EPS for the quarter. The company had revenue of C$426.40 million for the quarter. Peyto Exploration & Development had a net margin of 40.47% and a return on equity of 16.78%.

Insider Buying and Selling at Peyto Exploration & Development

In other Peyto Exploration & Development news, insider Michael Richard Collens sold 13,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of C$24.25, for a total transaction of C$315,250.00. Following the completion of the transaction, the insider owned 27,386 shares of the company’s stock, valued at C$664,110.50. This represents a 32.19% decrease in their position. Also, insider Crissy Rafoss sold 6,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of C$24.25, for a total value of C$145,500.00. Following the completion of the sale, the insider directly owned 25,066 shares in the company, valued at approximately C$607,850.50. The trade was a 19.31% decrease in their position. Over the last 90 days, insiders bought 10,300 shares of company stock worth $245,358 and sold 331,542 shares worth $8,414,041. Corporate insiders own 2.36% of the company’s stock.

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.