GMP Securities Trims Peyto Exploration & Development (PEY) Target Price to C$13.50

Peyto Exploration & Development (TSE:PEY) had its target price cut by research analysts at GMP Securities from C$14.00 to C$13.50 in a note issued to investors on Thursday. GMP Securities’ target price would suggest a potential upside of 23.85% from the company’s previous close.

A number of other equities analysts have also issued reports on PEY. National Bank Financial decreased their price objective on Peyto Exploration & Development from C$14.50 to C$13.00 and set a “c$10.49” rating for the company in a report on Wednesday, July 18th. Raymond James decreased their price objective on Peyto Exploration & Development from C$16.00 to C$15.75 in a report on Friday, October 5th. Canaccord Genuity decreased their price objective on Peyto Exploration & Development from C$18.00 to C$16.00 in a report on Tuesday, October 16th. Finally, TD Securities lowered Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$12.00 price objective for the company. in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of C$14.20.

PEY stock traded down C$0.58 on Thursday, reaching C$10.90. The company’s stock had a trading volume of 1,172,375 shares, compared to its average volume of 922,885. Peyto Exploration & Development has a 52 week low of C$9.83 and a 52 week high of C$19.83.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings data on Wednesday, August 8th. The company reported C$0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.27 by C($0.09). The company had revenue of C$159.81 million during the quarter.

In other news, insider Scott Robinson bought 50,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was purchased at an average cost of C$11.50 per share, for a total transaction of C$575,000.00. Also, Director Micheal Macbean bought 20,000 shares of the business’s stock in a transaction on Wednesday, October 10th. The stock was purchased at an average price of C$12.13 per share, with a total value of C$242,600.00.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Canada. The company's oil and gas properties are located in the Alberta's Deep Basin. As of December 31, 2017, it had a total proved plus probable reserves of 722 million barrels of oil equivalent.

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Analyst Recommendations for Peyto Exploration & Development (TSE:PEY)

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