Peyto Exploration & Development (TSE:PEY) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Peyto Exploration & Development (TSE:PEY) had its target price boosted by equities researchers at Royal Bank Of Canada from C$24.00 to C$27.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 3.89% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$23.50 to C$24.50 in a report on Monday, November 24th. Canaccord Genuity Group raised their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. Scotiabank lifted their price objective on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. TD Securities increased their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Canadian Imperial Bank of Commerce raised Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$21.00 to C$25.00 in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.90.

Peyto Exploration & Development Stock Performance

Shares of TSE:PEY traded down C$0.78 during trading on Friday, hitting C$25.99. 928,221 shares of the stock were exchanged, compared to its average volume of 1,088,352. The company’s fifty day simple moving average is C$23.66 and its 200-day simple moving average is C$21.18. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. The company has a market capitalization of C$5.25 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of -0.46 and a beta of -0.21. Peyto Exploration & Development has a 1-year low of C$14.60 and a 1-year high of C$27.19.

Insider Activity

In related news, insider Todd Burdick sold 52,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of C$22.21, for a total transaction of C$1,154,920.00. Following the completion of the transaction, the insider owned 208,206 shares in the company, valued at approximately C$4,624,255.26. The trade was a 19.98% decrease in their ownership of the stock. Also, insider Riley Millar Frame purchased 11,500 shares of the stock in a transaction on Monday, December 15th. The stock was acquired at an average price of C$22.78 per share, with a total value of C$261,970.00. Following the completion of the acquisition, the insider directly owned 128,877 shares of the company’s stock, valued at approximately C$2,935,818.06. This represents a 9.80% increase in their ownership of the stock. In the last 90 days, insiders have sold 175,000 shares of company stock valued at $3,870,120. Insiders own 2.36% of the company’s stock.

About Peyto Exploration & Development

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.