GMP Securities Reiterates C$16.00 Price Target for Peyto Exploration & Dev (PEY)

GMP Securities set a C$16.00 price objective on Peyto Exploration & Dev (TSE:PEY) in a research note released on Wednesday morning.

Other research analysts also recently issued reports about the stock. CIBC decreased their price target on shares of Peyto Exploration & Dev from C$14.00 to C$12.50 in a research report on Tuesday, January 23rd. Eight Capital decreased their price objective on shares of Peyto Exploration & Dev from C$16.25 to C$15.15 in a research report on Friday, January 12th. BMO Capital Markets decreased their price objective on shares of Peyto Exploration & Dev from C$16.00 to C$15.00 and set an outperform rating on the stock in a research report on Thursday, March 1st. Raymond James decreased their price objective on shares of Peyto Exploration & Dev from C$20.00 to C$19.00 and set an outperform rating on the stock in a research report on Monday, January 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Peyto Exploration & Dev from C$20.00 to C$17.00 and set an outperform rating on the stock in a research report on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of C$14.92.

Peyto Exploration & Dev opened at C$10.63 on Wednesday, according to Marketbeat. Peyto Exploration & Dev has a 1-year low of C$9.83 and a 1-year high of C$26.64.

Peyto Exploration & Dev (TSE:PEY) last released its quarterly earnings results on Wednesday, February 28th. The company reported C$0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of C$211.80 million for the quarter.

In other news, insider Scott Robinson sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of C$10.09, for a total transaction of C$403,600.00.

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.

Analyst Recommendations for Peyto Exploration & Dev (TSE:PEY)

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