Peyto Exploration & Dev (TSE:PEY) had its price target hoisted by equities research analysts at CIBC from C$12.00 to C$12.50 in a research note issued to investors on Tuesday, March 20th. CIBC’s target price indicates a potential upside of 7.57% from the stock’s current price.
Several other research firms have also recently weighed in on PEY. Scotiabank cut Peyto Exploration & Dev from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$22.50 to C$17.50 in a report on Monday, January 15th. BMO Capital Markets cut their price objective on Peyto Exploration & Dev from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Thursday, March 1st. Barclays cut their price objective on Peyto Exploration & Dev from C$19.00 to C$14.00 in a report on Monday, January 15th. Royal Bank of Canada cut their price objective on Peyto Exploration & Dev from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday, January 12th. Finally, National Bank Financial cut their price objective on Peyto Exploration & Dev from C$22.00 to C$16.00 and set an “outperform” rating on the stock in a report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of C$14.82.
Shares of Peyto Exploration & Dev stock traded down C$0.24 during trading on Tuesday, hitting C$11.62. 1,383,243 shares of the company were exchanged, compared to its average volume of 1,148,689. Peyto Exploration & Dev has a 1-year low of C$9.83 and a 1-year high of C$27.14.
Peyto Exploration & Dev (TSE:PEY) last released its quarterly earnings data on Wednesday, February 28th. The company reported C$0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.26 by C$0.05. Peyto Exploration & Dev had a return on equity of 10.84% and a net margin of 30.65%. The business had revenue of C$211.80 million for the quarter.
In other Peyto Exploration & Dev news, insider Scott Robinson sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of C$10.09, for a total value of C$403,600.00. Also, Director Stephen Jonathan Chetner sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of C$12.80, for a total value of C$320,000.00. Insiders sold a total of 105,000 shares of company stock worth $1,214,000 in the last 90 days.
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About Peyto Exploration & Dev
Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Canada. The company's oil and gas properties are located in the Alberta's Deep Basin. As of December 31, 2016, it had a total proved plus probable reserves of 655 million barrels of oil equivalent.
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