CIBC Boosts Peyto Exploration & Development (TSE:PEY) Price Target to C$17.50

Peyto Exploration & Development (TSE:PEY) had its price objective lifted by CIBC from C$16.00 to C$17.50 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

PEY has been the subject of several other reports. Scotiabank increased their price objective on Peyto Exploration & Development from C$20.00 to C$22.00 and gave the company an outperform rating in a report on Wednesday. BMO Capital Markets raised their price objective on shares of Peyto Exploration & Development from C$14.00 to C$16.50 and gave the stock a market perform rating in a research report on Monday, March 11th. Canaccord Genuity Group upped their target price on shares of Peyto Exploration & Development from C$17.00 to C$18.00 and gave the company a buy rating in a report on Wednesday. ATB Capital set a C$15.00 price target on Peyto Exploration & Development and gave the stock an outperform rating in a report on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on Peyto Exploration & Development from C$16.25 to C$18.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Peyto Exploration & Development currently has a consensus rating of Moderate Buy and a consensus price target of C$16.59.

Peyto Exploration & Development Price Performance

Shares of TSE PEY opened at C$15.92 on Wednesday. The stock’s 50-day moving average is C$15.05 and its two-hundred day moving average is C$13.79. The company has a debt-to-equity ratio of 51.67, a current ratio of 1.75 and a quick ratio of 0.32. The company has a market cap of C$3.10 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of -0.46 and a beta of 1.85. Peyto Exploration & Development has a 1-year low of C$10.38 and a 1-year high of C$15.94.

Insider Buying and Selling

In other Peyto Exploration & Development news, Senior Officer Todd Burdick sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$14.30, for a total value of C$343,200.00. In related news, Senior Officer Todd Burdick sold 24,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$14.30, for a total transaction of C$343,200.00. Also, Director Jean-Paul Henri Lachance sold 35,000 shares of Peyto Exploration & Development stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$14.55, for a total value of C$509,250.00. Over the last quarter, insiders have sold 108,700 shares of company stock valued at $1,573,840. 2.42% of the stock is owned by company insiders.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.