Peyto Exploration & Development Corp. (TSE:PEY) Given Average Recommendation of “Buy” by Brokerages

Shares of Peyto Exploration & Development Corp. (TSE:PEYGet Rating) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is C$15.44.

Several analysts have commented on PEY shares. Raymond James upped their price objective on Peyto Exploration & Development from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Scotiabank upped their price target on Peyto Exploration & Development from C$18.00 to C$21.00 in a report on Tuesday, March 8th. Stifel Nicolaus upped their price target on Peyto Exploration & Development from C$17.00 to C$20.00 in a report on Friday, May 13th. National Bankshares lowered their target price on Peyto Exploration & Development from C$18.00 to C$15.50 in a report on Thursday, April 14th. Finally, CIBC increased their target price on Peyto Exploration & Development from C$14.50 to C$15.50 in a report on Thursday, April 14th.

In related news, Director Brian Davis acquired 1,800 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was purchased at an average cost of C$14.46 per share, for a total transaction of C$26,025.30. Following the purchase, the director now directly owns 169,040 shares in the company, valued at C$2,444,064.84. Also, Senior Officer Todd Burdick acquired 2,200 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were bought at an average price of C$14.81 per share, with a total value of C$32,582.00. Following the completion of the purchase, the insider now owns 70,385 shares in the company, valued at C$1,042,401.85. In the last 90 days, insiders have acquired 31,000 shares of company stock worth $459,907 and have sold 159,333 shares worth $2,490,746.

TSE:PEY opened at C$11.65 on Friday. The stock has a 50-day simple moving average of C$14.36 and a 200-day simple moving average of C$11.99. The stock has a market cap of C$1.92 billion and a P/E ratio of 9.53. Peyto Exploration & Development has a 1 year low of C$5.88 and a 1 year high of C$17.13. The company has a debt-to-equity ratio of 82.09, a quick ratio of 0.31 and a current ratio of 0.35.

Peyto Exploration & Development (TSE:PEYGet Rating) last posted its earnings results on Wednesday, May 11th. The company reported C$0.56 earnings per share for the quarter, missing the consensus estimate of C$0.57 by C($0.01). The firm had revenue of C$286.89 million during the quarter. On average, equities research analysts predict that Peyto Exploration & Development will post 1.8313667 EPS for the current year.

About Peyto Exploration & Development (Get Rating)

Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin of Alberta. As of December 31, 2021, it had a total proved plus probable reserves of 904 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.

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