Peyto Exploration & Development (TSE:PEY) Raised to “Outperform” at BMO Capital Markets

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

A number of other research firms also recently commented on PEY. CIBC raised their price objective on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. 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. Finally, TD Securities raised their price target on shares of 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$18.78.

Peyto Exploration & Development Stock Up 3.1 %

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

Insider Activity at Peyto Exploration & Development

In related news, Director Jean-Paul Henri Lachance sold 31,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of C$17.10, for a total transaction of C$542,070.00. Also, Senior Officer Todd Burdick sold 24,000 shares of the business’s stock in a transaction 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. In the last ninety days, insiders purchased 14,150 shares of company stock worth $230,994 and sold 203,509 shares worth $3,402,675. 2.36% of the stock is currently owned by corporate insiders.

Peyto Exploration & Development Company Profile

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.