Peyto Exploration & Development (TSE:PEY) had its price target lifted by equities research analysts at Scotiabank from C$6.50 to C$8.00 in a report released on Thursday, BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 56.25% from the stock’s current price.
A number of other analysts also recently issued reports on PEY. BMO Capital Markets raised their price objective on shares of Peyto Exploration & Development from C$6.00 to C$6.50 and gave the stock a “na” rating in a report on Monday, March 15th. Canaccord Genuity raised their price objective on shares of Peyto Exploration & Development from C$4.00 to C$8.00 and gave the company a “na” rating in a research report on Friday, February 19th. TD Securities lifted their target price on shares of Peyto Exploration & Development from C$3.50 to C$6.50 and gave the company a “hold” rating in a research report on Friday, February 19th. Raymond James lifted their target price on shares of Peyto Exploration & Development from C$5.50 to C$7.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Finally, Tudor Pickering & Holt set a C$3.50 price target on shares of Peyto Exploration & Development and gave the stock a “hold” rating in a research note on Thursday, March 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of C$6.33.
TSE:PEY traded down C$0.04 on Thursday, hitting C$5.12. The company had a trading volume of 183,966 shares, compared to its average volume of 853,452. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 70.50. Peyto Exploration & Development has a 52 week low of C$1.48 and a 52 week high of C$6.57. The stock has a market capitalization of C$844.50 million and a price-to-earnings ratio of -23.70. The firm has a 50 day moving average of C$5.69 and a two-hundred day moving average of C$3.91.
Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings results on Wednesday, March 3rd. The company reported C$0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.06 by C$0.34. The firm had revenue of C$116.02 million during the quarter. As a group, equities analysts forecast that Peyto Exploration & Development will post 0.5899999 EPS for the current year.
In other Peyto Exploration & Development news, Senior Officer David Alan Thomas acquired 15,500 shares of the company’s stock in a transaction on Friday, January 15th. The stock was acquired at an average cost of C$4.03 per share, with a total value of C$62,465.00. Following the purchase, the insider now directly owns 284,872 shares of the company’s stock, valued at approximately C$1,148,034.16. Also, Senior Officer Kathy Turgeon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of C$6.30, for a total transaction of C$62,950.00. Following the sale, the insider now owns 120,610 shares in the company, valued at C$759,239.95. Over the last quarter, insiders sold 40,000 shares of company stock worth $206,900.
Peyto Exploration & Development Company Profile
Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin of Alberta. As of December 31, 2020, it had a total proved plus probable reserves of 834 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.
See Also: Consumer Price Index (CPI)