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

Peyto Exploration & Development (TSE:PEY) had its price target lifted by equities researchers at Desjardins from C$16.50 to C$17.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target points to a potential upside of 3.47% from the stock’s current price.

Other research analysts have also recently issued reports about the company. BMO Capital Markets lifted their price target on Peyto Exploration & Development from C$17.50 to C$18.50 in a research report on Tuesday, January 14th. CIBC lifted their price target on Peyto Exploration & Development from C$17.00 to C$17.50 in a research report on Friday, January 17th. Finally, TD Securities lifted their price target on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$18.67.

Peyto Exploration & Development Trading Up 1.0 %

Shares of TSE:PEY opened at C$16.43 on Thursday. Peyto Exploration & Development has a 52-week low of C$13.40 and a 52-week high of C$17.57. The stock 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 quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. The business has a 50-day moving average price of C$16.21 and a 200-day moving average price of C$15.75.

Insider Buying and Selling at Peyto Exploration & Development

In other news, Director Jean-Paul Henri Lachance purchased 5,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of C$15.50 per share, with a total value of C$77,500.00. Also, Senior Officer Tavis Aaron Carlson purchased 2,000 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of C$17.17 per share, for a total transaction of C$34,340.00. Over the last three months, insiders have acquired 25,750 shares of company stock valued at $411,718 and have sold 208,306 shares valued at $3,478,583. 2.36% of the stock is 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.