CIBC Forecasts Strong Price Appreciation for Peyto Exploration & Development (TSE:PEY) Stock

Peyto Exploration & Development (TSE:PEY) had its price target boosted by CIBC from C$17.00 to C$17.50 in a report issued on Friday morning,BayStreet.CA reports.

Several other research analysts also recently issued reports on PEY. National Bankshares lifted their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. TD Securities cut their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. BMO Capital Markets lifted their price objective on Peyto Exploration & Development from C$17.50 to C$18.50 in a research report on Tuesday, January 14th. Finally, Atlantic Securities lifted their price objective on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$17.85.

Peyto Exploration & Development Price Performance

PEY stock opened at C$16.37 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. Peyto Exploration & Development has a 12-month low of C$12.41 and a 12-month high of C$17.57. The company has a market cap of C$3.20 billion, a price-to-earnings ratio of 10.56, a PEG ratio of -0.46 and a beta of 1.75. The firm has a 50 day moving average of C$16.43 and a 200-day moving average of C$15.36.

Insiders Place Their Bets

In other news, Senior Officer Derick Nathan Czember sold 62,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of C$16.18, for a total transaction of C$1,002,936.80. Also, Director Stephen Jonathan Chetner acquired 4,000 shares of the stock in a transaction dated Monday, October 28th. The shares were bought at an average cost of C$15.31 per share, with a total value of C$61,244.00. In the last three months, insiders bought 20,860 shares of company stock valued at $328,142 and sold 352,562 shares valued at $5,843,683. 2.36% of the stock is owned by corporate insiders.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.