Peyto Exploration & Development (TSE:PEY) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Peyto Exploration & Development (TSE:PEY) from a market perform rating to an outperform rating in a report released on Monday morning,BayStreet.CA reports. The brokerage currently has C$19.50 target price on the stock, up from their previous target price of C$18.50.

Several other brokerages have also issued reports on PEY. Desjardins boosted their target price on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “hold” rating in a research report on Thursday, March 13th. CIBC boosted their target price on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. Finally, 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 note on Friday, February 21st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$18.78.

Peyto Exploration & Development Trading Up 3.6 %

Shares of PEY opened at C$18.04 on Monday. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. Peyto Exploration & Development has a 1-year low of C$13.40 and a 1-year high of C$18.30. The firm has a market capitalization of C$3.58 billion, a price-to-earnings ratio of 12.16, a PEG ratio of -0.46 and a beta of 1.75. The firm’s 50-day moving average price is C$16.21 and its 200-day moving average price is C$15.88.

Insider Activity at Peyto Exploration & Development

In other news, Senior Officer Tavis Aaron Carlson acquired 2,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of C$17.17 per share, with a total value of C$34,340.00. Also, Director Jean-Paul Henri Lachance sold 31,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of C$17.10, for a total transaction of C$542,070.00. Over the last ninety days, insiders have acquired 14,150 shares of company stock valued at $230,994 and have sold 203,509 shares valued at $3,402,675. 2.36% of the stock is currently owned by corporate insiders.

Peyto Exploration & Development Company Profile

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.