Peyto Exploration & Dev (TSE:PEY) had its price objective hoisted by investment analysts at Raymond James Financial from C$15.50 to C$16.00 in a research note issued to investors on Friday. Raymond James Financial’s target price would indicate a potential upside of 37.93% from the company’s current price.
PEY has been the subject of a number of other research reports. National Bank Financial increased their target price on shares of Peyto Exploration & Dev from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Monday, January 15th. TD Securities cut their target price on shares of Peyto Exploration & Dev from C$19.50 to C$18.00 and set a “buy” rating for the company in a research report on Monday, January 15th. Eight Capital dropped their price target on shares of Peyto Exploration & Dev from C$16.25 to C$15.15 in a research note on Friday, January 12th. BMO Capital Markets upgraded shares of Peyto Exploration & Dev from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$15.00 to C$16.00 in a research note on Friday, January 12th. Finally, CSFB dropped their price target on shares of Peyto Exploration & Dev from C$16.00 to C$14.00 in a research note on Friday, January 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of C$14.82.
PEY stock traded up C$0.05 during midday trading on Friday, reaching C$11.60. The company had a trading volume of 745,543 shares, compared to its average volume of 1,154,503. Peyto Exploration & Dev has a 1 year low of C$9.83 and a 1 year high of C$27.72.
Peyto Exploration & Dev (TSE:PEY) last released its earnings results on Wednesday, February 28th. The company reported C$0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.26 by C$0.05. Peyto Exploration & Dev had a net margin of 30.65% and a return on equity of 10.84%. The company had revenue of C$211.80 million during the quarter.
In related news, insider Scott Robinson sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of C$12.00, for a total value of C$240,000.00. Also, Director Stephen Jonathan Chetner sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of C$12.80, for a total transaction of C$320,000.00. In the last 90 days, insiders have sold 105,000 shares of company stock worth $1,214,000.
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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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