Peyto Exploration & Development (TSE:PEY) Given New C$13.50 Price Target at Desjardins

Peyto Exploration & Development (TSE:PEY) had its price target cut by Desjardins from C$14.00 to C$13.50 in a research report released on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other brokerages have also weighed in on PEY. BMO Capital Markets boosted their target price on shares of Peyto Exploration & Development from C$14.00 to C$16.50 and gave the company a market perform rating in a research note on Monday, March 11th. Stifel Nicolaus upped their price objective on Peyto Exploration & Development from C$16.00 to C$16.50 in a research note on Monday, March 11th. Canaccord Genuity Group upped their price objective on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. National Bankshares reduced their price objective on Peyto Exploration & Development from C$17.50 to C$15.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Finally, Scotiabank reduced their price objective on Peyto Exploration & Development from C$23.00 to C$20.00 and set an outperform rating for the company in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Peyto Exploration & Development presently has an average rating of Moderate Buy and an average price target of C$16.27.

Peyto Exploration & Development Price Performance

Shares of PEY opened at C$15.45 on Tuesday. The firm has a market cap of C$2.99 billion, a PE ratio of 9.54, a P/E/G ratio of -0.46 and a beta of 1.83. The company has a current ratio of 1.75, a quick ratio of 0.32 and a debt-to-equity ratio of 51.67. The firm has a fifty day simple moving average of C$14.68 and a two-hundred day simple moving average of C$13.66. Peyto Exploration & Development has a 1-year low of C$10.38 and a 1-year high of C$15.68.

Insider Buying and Selling

In related news, Senior Officer Todd Burdick sold 24,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$14.30, for a total value of C$343,200.00. In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner sold 2,700 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of C$14.50, for a total transaction of C$39,150.00. Also, Senior Officer Todd Burdick sold 24,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$14.30, for a total transaction of C$343,200.00. In the last quarter, insiders sold 108,700 shares of company stock valued at $1,573,840. Company insiders own 2.51% of the company’s stock.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.