Peyto Exploration & Development (TSE:PEY) Given New C$6.00 Price Target at Royal Bank of Canada

Peyto Exploration & Development (TSE:PEY) had its price objective lowered by Royal Bank of Canada from C$9.00 to C$6.00 in a report released on Thursday morning, BayStreet.CA reports.

Several other research analysts also recently commented on the stock. GMP Securities reissued a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. BMO Capital Markets reissued a hold rating and set a $9.50 price objective on shares of Vicon Industries in a report on Friday, June 14th. Canaccord Genuity reissued a buy rating and set a $7.50 price objective on shares of in a report on Tuesday, July 9th. CIBC dropped their price objective on shares of Peyto Exploration & Development from C$10.00 to C$6.00 in a report on Wednesday, June 19th. Finally, TD Securities downgraded shares of Tricon Capital Group from an action list buy rating to a buy rating and dropped their price objective for the company from C$14.50 to C$13.50 in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of C$6.90.

PEY opened at C$4.16 on Thursday. The firm’s 50-day moving average is C$4.10. Peyto Exploration & Development has a 52 week low of C$3.71 and a 52 week high of C$12.44. The company has a market cap of $685.88 million and a P/E ratio of 6.45. The company has a debt-to-equity ratio of 72.53, a current ratio of 1.23 and a quick ratio of 0.88.

Peyto Exploration & Development (TSE:PEY) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$0.15 EPS for the quarter. The company had revenue of C$151.66 million for the quarter. As a group, analysts forecast that Peyto Exploration & Development will post 0.23 earnings per share for the current year.

In related news, Director Michael Macbean sold 17,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of C$3.94, for a total value of C$66,980.00. Following the completion of the transaction, the director now owns 3,500 shares of the company’s stock, valued at approximately C$13,790.

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 Deep Basin, Alberta. As of December 31, 2018, it had a total proved plus probable reserves of 803 million barrels of oil equivalent.

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

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