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

Peyto Exploration & Development (TSE:PEY) had its price target lifted by investment analysts at CIBC from C$17.00 to C$17.50 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 6.90% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. TD Securities dropped their target price on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. BMO Capital Markets upped their price target on shares of Peyto Exploration & Development from C$17.50 to C$18.50 in a research report on Tuesday, January 14th. National Bankshares upped their price objective on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. Finally, Atlantic Securities upped their target price on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Peyto Exploration & Development has an average rating of “Buy” and an average price target of C$17.85.

Peyto Exploration & Development Price Performance

Shares of PEY opened at C$16.37 on Friday. Peyto Exploration & Development has a fifty-two week low of C$12.41 and a fifty-two week high of C$17.57. The company has a market capitalization of C$3.20 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The firm has a 50-day simple moving average of C$16.43 and a 200-day simple moving average of C$15.36. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner bought 4,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were purchased at an average price of C$15.31 per share, for a total transaction of C$61,244.00. Also, 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. Over the last three months, insiders acquired 20,860 shares of company stock worth $328,142 and sold 352,562 shares worth $5,843,683. Corporate insiders own 2.36% of the company’s stock.

About Peyto Exploration & Development

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.