Peyto Exploration & Development (TSE:PEY) Upgraded at BMO Capital Markets

Peyto Exploration & Development (TSE:PEY) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a C$19.50 price target on the stock, up from their previous price target of C$18.50. BMO Capital Markets’ price objective points to a potential upside of 6.44% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. TD Securities raised their target price on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Friday, February 21st. CIBC boosted their price objective on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. Finally, Desjardins lifted their price target on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “hold” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$18.78.

Peyto Exploration & Development Stock Up 1.6 %

Shares of PEY stock opened at C$18.32 on Monday. The firm has a fifty day moving average of C$16.23 and a 200-day moving average of C$15.91. Peyto Exploration & Development has a 12-month low of C$13.40 and a 12-month high of C$18.48. The company has a market capitalization of C$3.64 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of -0.46 and a beta of 1.75. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember sold 62,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of C$16.18, for a total value of C$1,002,936.80. Also, Director Jean-Paul Henri Lachance bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of C$15.85 per share, with a total value of C$79,250.00. In the last quarter, insiders purchased 14,150 shares of company stock valued at $230,994 and sold 203,509 shares valued at $3,402,675. 2.36% of the stock is owned by insiders.

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.