Peyto Exploration & Development (TSE:PEY) Price Target Cut to C$5.00

Peyto Exploration & Development (TSE:PEY) had its price objective dropped by National Bank Financial from C$10.00 to C$5.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 22.55% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Raymond James reduced their target price on shares of Peyto Exploration & Development from C$8.00 to C$7.50 and set a “market perform” rating for the company in a report on Wednesday, May 8th. Eight Capital set a C$6.00 target price on shares of Peyto Exploration & Development in a report on Wednesday, May 8th. CIBC reduced their target price on shares of Peyto Exploration & Development from C$10.00 to C$6.00 in a report on Wednesday, June 19th. BMO Capital Markets reduced their target price on shares of Peyto Exploration & Development from C$9.00 to C$5.00 in a report on Friday, June 14th. Finally, TD Securities reduced their target price on shares of Peyto Exploration & Development from C$9.50 to C$9.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$7.93.

PEY stock opened at C$4.08 on Tuesday. The company has a debt-to-equity ratio of 72.53, a current ratio of 1.23 and a quick ratio of 0.88. The company has a 50-day moving average price of C$4.78. The company has a market capitalization of $667.74 million and a P/E ratio of 6.33. Peyto Exploration & Development has a 1-year low of C$3.78 and a 1-year high of C$12.44.

Peyto Exploration & Development (TSE:PEY) last announced its earnings results on Tuesday, May 7th. The company reported C$0.15 EPS for the quarter. The firm had revenue of C$151.66 million during the quarter. On average, analysts predict that Peyto Exploration & Development will post 0.3 EPS for the current year.

In other Peyto Exploration & Development news, Senior Officer Kathy Turgeon purchased 10,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were acquired at an average price of C$6.44 per share, for a total transaction of C$64,400.00. Following the completion of the purchase, the insider now owns 100,610 shares of the company’s stock, valued at C$647,928.40. Also, Director Michael Macbean sold 17,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of C$3.94, for a total value of C$66,980.00. Following the sale, the director now owns 3,500 shares in the company, valued at approximately C$13,790.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin, Alberta. As of December 31, 2018, it had a total proved plus probable reserves of 803 million barrels of oil equivalent.

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

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