Peyto Exploration & Development (TSE:PEY) Reaches New 12-Month Low on Analyst Downgrade

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Peyto Exploration & Development Corp (TSE:PEY)’s share price reached a new 52-week low on Monday after BMO Capital Markets lowered their price target on the stock from C$9.00 to C$5.00. The company traded as low as C$3.84 and last traded at C$3.87, with a volume of 109259 shares traded. The stock had previously closed at C$3.90.

A number of other equities analysts have also weighed in on PEY. Raymond James lowered their price target on shares of Peyto Exploration & Development from C$8.00 to C$7.50 and set a “market perform” rating on the stock in a research report on Wednesday, May 8th. TD Securities reduced their target price on shares of Peyto Exploration & Development from C$9.50 to C$9.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Eight Capital set a C$6.00 target price on shares of Peyto Exploration & Development in a research note on Wednesday, May 8th. Finally, National Bank Financial set a C$10.00 target price on shares of Peyto Exploration & Development and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of C$8.83.

In related news, Senior Officer Kathy Turgeon purchased 10,000 shares of Peyto Exploration & Development stock in a transaction dated Thursday, April 4th. The shares were acquired at an average cost of C$6.44 per share, with a total value of C$64,400.00. Following the purchase, the insider now owns 100,610 shares of the company’s stock, valued at C$647,928.40. Also, Senior Officer Jean-Paul Henri Lachance purchased 8,800 shares of Peyto Exploration & Development stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of C$7.41 per share, for a total transaction of C$65,208.00. Following the completion of the purchase, the insider now directly owns 110,760 shares in the company, valued at approximately C$820,731.60.

The company has a market cap of $643.01 million and a PE ratio of 6.08. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 72.53.

Peyto Exploration & Development (TSE:PEY) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.15 earnings per share (EPS) for the quarter. The company had revenue of C$151.66 million during the quarter. Analysts anticipate that Peyto Exploration & Development Corp will post 0.3 EPS for the current year.

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Peyto Exploration & Development Company Profile (TSE:PEY)

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin, Alberta. As of December 31, 2018, it had a total proved plus probable reserves of 803 million barrels of oil equivalent.

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