Peyto Exploration & Development (TSE:PEY) Price target cut to C$18.50 by TD Securities analysts

Peyto Exploration & Development (TSE:PEY – Get a rating) had its target price reduced by TD Securities equity research analysts from C$19.00 to C$18.50 in a research note released Friday, BayStreet.CA reports. The company currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 40.68% from the company’s previous close.

A number of other research analysts have also weighed in on PEY recently. Scotiabank raised its price target on Peyto Exploration & Development from C$23.00 to C$24.00 in a Thursday, July 14 research note. National Bankshares cut its price target on Peyto Exploration & Development from C$19.50 to C$19.00 and set an “outperform” rating for the stock in a report released Thursday. Stifel Nicolaus raised his price target on Peyto Exploration & Development shares from C$19.25 to C$19.50 in a report on Friday. CIBC lowered its price target on Peyto Exploration & Development shares from C$22.00 to C$19.00 in a Wednesday, July 13 research note. Finally, Raymond James raised his price target on Peyto Exploration & Development shares from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a Tuesday research report. July the 5th. Five analysts rated the stock with a buy rating. According to data from MarketBeat.com, Peyto Exploration & Development has a consensus rating of “Buy” and an average price target of C$16.61.

Peyto Exploration & Development Trading down 2.8%

Shares of PEY traded lower C$0.38 during Friday trading hours, hitting C$13.15. 708,035 shares of the company were traded, against an average volume of 880,479. The company has a debt ratio of 82.09, a quick ratio of 0.31 and a current ratio of 0.35. Peyto Exploration & Development has a fifty-two week minimum of C$5.88 and a fifty-two week maximum of C$17.13. The company has a 50-day simple moving average of C$13.34 and a 200-day simple moving average of C$12.73. The company has a market capitalization of C$2.23 billion and a P/E ratio of 10.78.

Peyto Exploration & Development (TSE:PEY – Get Rating) last released its quarterly results on Wednesday, May 11. The company reported EPS of C$0.56 for the quarter, missing analyst consensus estimates of C$0.57 by C$0.01. The company reported revenue of C$286.89 million for the quarter. Equity analysts expect Peyto Exploration & Development to post year-to-date EPS of 2.3900002.

Insider buying and selling

In other Peyto Exploration & Development news, Senior Officer Darren Gee sold 22,000 shares in a trade dated Monday, July 25. The shares were sold at an average price of CA$13.05, for a total value of CA$287,100.00. Following the completion of the sale, the insider now owns 210,309 shares of the company, valued at approximately C$2,744,532.45. In other Peyto Exploration & Development news, Senior Officer Darren Gee sold 22,000 shares of the company in a trade that took place on Monday, July 25. The shares were sold at an average price of CA$13.05, for a total value of CA$287,100.00. Following completion of the transaction, the insider now owns 210,309 shares of the company, valued at approximately C$2,744,532.45. Additionally, director Brian Davis sold 1,800 shares of the company in a trade on Friday, May 20. The stock was sold at an average price of CA$14.20, for a total transaction of CA$25,551.36. Following the completion of the transaction, the administrator now owns 167,240 shares of the company, valued at C$2,374,005.25. Over the past ninety days, insiders have bought 27,500 shares of the company worth $407,300 and sold 207,787 shares worth $3,098,427.

About Peyto Exploration & Development

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Peyto Exploration & Development Corp. is engaged in the exploration, development and production of oil and natural gas and natural gas liquids in the Alberta Deep Basin. As of December 31, 2021, it had total proven and probable reserves of 904 million barrels of oil equivalent. The company was previously known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.

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