BMO Capital Markets Upgrades Peyto Exploration & Development (TSE:PEY) to Outperform

Peyto Exploration & Development (TSE:PEY) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a C$19.50 price target on the stock, up from their prior price target of C$18.50. BMO Capital Markets’ price target indicates a potential upside of 6.44% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Desjardins lifted their target price on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday, March 13th. CIBC increased their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a research report on Friday, January 17th. Finally, TD Securities increased their price objective on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$18.78.

Peyto Exploration & Development Stock Up 1.6 %

Shares of TSE PEY opened at C$18.32 on Monday. Peyto Exploration & Development has a 12-month low of C$13.40 and a 12-month high of C$18.48. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The firm’s 50-day moving average is C$16.23 and its two-hundred day moving average is C$15.91. The company has a market capitalization of C$3.64 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

Insider Buying and Selling

In related news, Senior Officer Tavis Aaron Carlson sold 25,000 shares of Peyto Exploration & Development stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of C$17.35, for a total transaction of C$433,750.00. Also, Director Jean-Paul Henri Lachance acquired 5,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of C$15.85 per share, with a total value of C$79,250.00. Over the last three months, insiders have bought 14,150 shares of company stock valued at $230,994 and have sold 203,509 shares valued at $3,402,675. 2.36% of the stock is owned by corporate insiders.

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.