Peyto Exploration & Development Corp. (TSE:PEY) Given Average Rating of "Buy" by Brokerages

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) has earned a consensus recommendation of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$18.78.

PEY has been the subject of a number of analyst reports. CIBC increased their target price on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a research report on Friday, January 17th. Desjardins lifted their target price on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a "hold" rating in a report on Thursday, March 13th. BMO Capital Markets upgraded shares of Peyto Exploration & Development from a "market perform" rating to an "outperform" rating and increased their price target for the stock from C$18.50 to C$19.50 in a report on Monday. Finally, TD Securities lifted their price objective on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a "buy" rating in a research note on Friday, February 21st.

Insiders Place Their Bets

In related news, Director Stephen Jonathan Chetner sold 7,012 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of C$15.99, for a total transaction of C$112,145.72. Also, Director Jean-Paul Henri Lachance purchased 5,000 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average price of C$15.85 per share, with a total value of C$79,250.00. Over the last 90 days, insiders purchased 14,150 shares of company stock valued at $230,994 and sold 203,509 shares valued at $3,402,675. 2.36% of the stock is currently owned by insiders.

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Peyto Exploration & Development Trading Up 1.8 %

PEY stock traded up C$0.33 during trading on Monday, hitting C$18.37. The company had a trading volume of 733,745 shares, compared to its average volume of 888,462. The firm has a market capitalization of C$3.65 billion, a P/E ratio of 12.38, a PEG ratio of -0.46 and a beta of 1.75. The company has a 50 day simple moving average of C$16.21 and a 200-day simple moving average of C$15.88. Peyto Exploration & Development has a 52-week low of C$13.40 and a 52-week high of C$18.48. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96.

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.