Peyto Exploration & Development (TSE:PEY) Upgraded at CIBC

Peyto Exploration & Development (TSE:PEY) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a C$25.00 target price on the stock, up from their prior target price of C$21.00. CIBC’s price objective would indicate a potential upside of 10.38% from the stock’s current price.

A number of other research firms have also commented on PEY. Canaccord Genuity Group upped their price target on Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. TD Securities lifted their price objective on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and increased their target price for the company from C$23.50 to C$24.50 in a research report on Monday, November 24th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Peyto Exploration & Development currently has a consensus rating of “Moderate Buy” and an average price target of C$22.89.

Peyto Exploration & Development Trading Up 2.7%

Shares of Peyto Exploration & Development stock traded up C$0.60 during trading on Tuesday, hitting C$22.65. The company’s stock had a trading volume of 1,098,132 shares, compared to its average volume of 1,043,117. The stock has a market cap of C$4.57 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of -0.46 and a beta of -0.46. Peyto Exploration & Development has a 52 week low of C$14.57 and a 52 week high of C$23.74. The stock has a 50-day moving average price of C$22.09 and a two-hundred day moving average price of C$20.13. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Insider Activity at Peyto Exploration & Development

In related news, insider Michael Richard Collens sold 13,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of C$21.96, for a total transaction of C$285,480.00. Following the transaction, the insider owned 25,000 shares in the company, valued at C$549,000. The trade was a 34.21% decrease in their position. Also, insider Riley Millar Frame bought 11,500 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average cost of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the purchase, the insider owned 128,877 shares of the company’s stock, valued at C$2,935,818.06. This represents a 9.80% increase in their ownership of the stock. Over the last quarter, insiders have sold 337,400 shares of company stock worth $7,383,580. Corporate insiders own 2.36% of the company’s stock.

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.