Canaccord Genuity Lowers Peyto Exploration & Development (PEY) Price Target to C$12.00

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Peyto Exploration & Development (TSE:PEY) had its target price dropped by analysts at Canaccord Genuity from C$16.00 to C$12.00 in a note issued to investors on Thursday. Canaccord Genuity’s price objective points to a potential upside of 54.04% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. GMP Securities decreased their price target on Peyto Exploration & Development from C$14.00 to C$13.50 in a research note on Thursday, November 8th. Raymond James decreased their price target on Peyto Exploration & Development from C$16.00 to C$15.75 in a research note on Friday, October 5th. TD Securities cut Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$12.00 price target for the company. in a research note on Thursday, November 8th. National Bank Financial reissued an “outperform” rating and issued a C$11.00 price target on shares of Peyto Exploration & Development in a research note on Monday, December 10th. Finally, Royal Bank of Canada cut Peyto Exploration & Development from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$12.00 to C$9.00 in a research note on Monday, January 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Peyto Exploration & Development presently has a consensus rating of “Hold” and a consensus target price of C$12.78.

TSE:PEY opened at C$7.79 on Thursday. Peyto Exploration & Development has a 1 year low of C$6.59 and a 1 year high of C$14.74. The company has a current ratio of 0.49, a quick ratio of 0.34 and a debt-to-equity ratio of 70.43.

Peyto Exploration & Development (TSE:PEY) last released its quarterly earnings results on Wednesday, November 7th. The company reported C$0.18 earnings per share (EPS) for the quarter. The business had revenue of C$147.19 million during the quarter. As a group, equities analysts predict that Peyto Exploration & Development will post 0.619999977187912 EPS for the current fiscal year.

In related news, insider Scott Robinson sold 40,000 shares of the firm’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of C$9.35, for a total transaction of C$374,000.00. Also, insider Kathy Turgeon sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of C$11.58, for a total value of C$115,800.00. Insiders have sold 93,400 shares of company stock valued at $935,036 in the last ninety days.

About Peyto Exploration & Development

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, 2017, it had a total proved plus probable reserves of 722 million barrels of oil equivalent.

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

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