Ventum Financial Reiterates C$31.00 Price Target for Peyto Exploration & Development (TSE:PEY)

Key Points

• Ventum Financial maintained a C$31.00 price target and “buy” rating for Peyto Exploration & Development, implying 21.43% upside from the previous close.
• Analyst sentiment is broadly positive: Peyto has an overall “Moderate Buy” rating and an average price target of C$27.19, with ratings ranging from Strong Buy to Hold.
• The stock closed at C$25.53, while the company recently reported C$0.50 quarterly EPS and C$340.45 million in revenue. Insiders have sold 90,229 shares worth about C$2.28 million over the past 90 days.

Peyto Exploration & Development (TSE:PEY - Get Free Report) received a C$31.00 price objective from equities researchers at Ventum Financial in a research note issued on Friday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Ventum Financial's price target points to a potential upside of 21.43% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. National Bank Financial boosted their price target on shares of Peyto Exploration & Development from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Scotiabank raised shares of Peyto Exploration & Development to a "hold" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Peyto Exploration & Development has an average rating of "Moderate Buy" and an average target price of C$27.19.

Peyto Exploration & Development Price Performance

PEY traded up C$0.18 during trading on Friday, hitting C$25.53. The company's stock had a trading volume of 535,469 shares, compared to its average volume of 850,646. The firm has a market capitalization of C$5.23 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of -0.46 and a beta of -0.23. Peyto Exploration & Development has a twelve month low of C$19.91 and a twelve month high of C$29.22. The business's fifty day simple moving average is C$24.55 and its 200 day simple moving average is C$24.91. The company has a current ratio of 1.63, a quick ratio of 0.32 and a debt-to-equity ratio of 34.98.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported C$0.50 earnings per share for the quarter. Peyto Exploration & Development had a return on equity of 16.96% and a net margin of 39.78%. The business had revenue of C$340.45 million during the quarter.

Insider Buying and Selling at Peyto Exploration & Development

In related news, insider Lee Russell Curran sold 28,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$25.45, for a total transaction of C$712,600.00. Following the completion of the sale, the insider directly owned 436,270 shares in the company, valued at approximately C$11,103,071.50. The trade was a 6.03% decrease in their ownership of the stock. Also, insider Derick Nathan Czember sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$25.45, for a total value of C$636,250.00. Following the sale, the insider owned 114,505 shares of the company's stock, valued at C$2,914,152.25. The trade was a 17.92% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 90,229 shares of company stock valued at $2,275,786. 2.36% of the stock is owned by insiders.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp (Peyto Exploration & Development) is an oil and gas company that involves in the exploration and development of natural gas. The company acquires, explores, develops and produces crude oil and unconventional natural gas reserves.

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