Peyto Exploration & Development (TSE:PEY) Price Target Lowered to C$4.75 at TD Securities

Peyto Exploration & Development (TSE:PEY) had its price target lowered by TD Securities from C$5.00 to C$4.75 in a research report released on Thursday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently commented on PEY. BMO Capital Markets dropped their price objective on shares of Peyto Exploration & Development from C$9.00 to C$5.00 in a research report on Friday, June 14th. Canaccord Genuity dropped their price objective on shares of Peyto Exploration & Development from C$11.00 to C$7.00 in a research report on Tuesday, July 9th. Royal Bank of Canada dropped their price objective on shares of Peyto Exploration & Development from C$9.00 to C$6.00 in a research report on Thursday, July 18th. Eight Capital set a C$6.00 price objective on shares of Peyto Exploration & Development in a research report on Wednesday, May 8th. Finally, National Bank Financial dropped their price objective on shares of Peyto Exploration & Development from C$10.00 to C$5.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of C$6.48.

Shares of TSE:PEY opened at C$3.26 on Thursday. Peyto Exploration & Development has a 52 week low of C$3.13 and a 52 week high of C$12.44. The firm has a 50 day moving average price of C$3.90. The company has a debt-to-equity ratio of 72.53, a quick ratio of 0.88 and a current ratio of 1.23. The stock has a market cap of $537.49 million and a P/E ratio of 5.05.

In related news, Director Michael Macbean sold 17,000 shares of the stock in a transaction on 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 transaction, the director now directly 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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