CIBC Forecasts Strong Price Appreciation for Peyto Exploration & Development (TSE:PEY) Stock

Key Points

• CIBC has raised its price target for Peyto Exploration & Development (TSE:PEY) from C$19.25 to C$21.00, indicating a potential upside of 9.83% from the current stock price.
• Peyto's shares experienced a 1.5% increase during trading, reaching C$19.12, with a trading volume of 319,030 shares.
• Recent insider activity includes Crissy Rafoss purchasing 5,500 shares at C$18.51 each, while Michael Richard Collens sold 26,000 shares at C$18.80.

Peyto Exploration & Development (TSE:PEY - Get Free Report) had its price target boosted by equities researchers at CIBC from C$19.25 to C$21.00 in a report released on Wednesday,BayStreet.CA reports. CIBC's target price points to a potential upside of 9.83% from the company's current price.

Peyto Exploration & Development Trading Up 1.5%

Shares of TSE PEY traded up C$0.28 during midday trading on Wednesday, hitting C$19.12. The company's stock had a trading volume of 319,030 shares, compared to its average volume of 864,753. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. The business's 50 day moving average is C$18.74 and its two-hundred day moving average is C$18.70. Peyto Exploration & Development has a 12-month low of C$14.57 and a 12-month high of C$21.12. The firm has a market cap of C$3.84 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of -0.46 and a beta of 0.00.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, insider Crissy Rafoss purchased 5,500 shares of Peyto Exploration & Development stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of C$18.51 per share, for a total transaction of C$101,805.00. Following the completion of the acquisition, the insider owned 5,500 shares in the company, valued at C$101,805. This represents a ∞ increase in their position. Also, insider Michael Richard Collens sold 26,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of C$18.80, for a total value of C$488,800.00. Following the completion of the sale, the insider owned 25,000 shares in the company, valued at approximately C$470,000. The trade was a 50.98% decrease in their ownership of the stock. Over the last three months, insiders have acquired 14,450 shares of company stock worth $267,380. 2.36% of the stock is currently owned by company insiders.

About Peyto Exploration & Development

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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