Desjardins Forecasts Strong Price Appreciation for Peyto Exploration & Development (TSE:PEY) Stock

Peyto Exploration & Development (TSE:PEYGet Free Report) had its target price hoisted by equities research analysts at Desjardins from C$16.50 to C$17.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential upside of 3.47% from the company’s previous close.

PEY has been the topic of a number of other research reports. TD Securities lifted their price objective on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. BMO Capital Markets lifted their price objective on Peyto Exploration & Development from C$17.50 to C$18.50 in a research report on Tuesday, January 14th. Finally, CIBC lifted their price objective on Peyto Exploration & Development from C$17.00 to C$17.50 in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$18.67.

View Our Latest Report on PEY

Peyto Exploration & Development Stock Performance

Shares of Peyto Exploration & Development stock opened at C$16.43 on Thursday. Peyto Exploration & Development has a one year low of C$13.40 and a one year high of C$17.57. The company has a market cap of C$3.26 billion, a price-to-earnings ratio of 11.08, a PEG ratio of -0.46 and a beta of 1.75. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. The business’s 50 day moving average price is C$16.21 and its 200 day moving average price is C$15.75.

Insider Activity at Peyto Exploration & Development

In related news, Senior Officer Derick Nathan Czember sold 62,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was 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 acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of C$15.50 per share, for a total transaction of C$77,500.00. In the last 90 days, insiders have bought 25,750 shares of company stock worth $411,718 and have sold 208,306 shares worth $3,478,583. Company insiders own 2.36% of the company’s stock.

About Peyto Exploration & Development

(Get Free Report)

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.

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

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