Raymond James Downgrades Peyto Exploration & Development (TSE:PEY) to Hold

Raymond James lowered shares of Peyto Exploration & Development (TSE:PEY - Free Report) from a moderate buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on PEY. Desjardins raised their price objective on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a "hold" rating in a research report on Thursday, March 13th. BMO Capital Markets upgraded Peyto Exploration & Development from a "market perform" rating to an "outperform" rating and increased their target price for the company from C$18.50 to C$19.50 in a research note on Monday, March 24th. CIBC increased their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. Finally, TD Securities increased their target price on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Peyto Exploration & Development has a consensus rating of "Moderate Buy" and an average target price of C$19.00.

Peyto Exploration & Development Stock Up 0.2%

PEY stock traded up C$0.03 on Wednesday, reaching C$18.97. 576,440 shares of the company traded hands, compared to its average volume of 919,420. Peyto Exploration & Development has a one year low of C$13.40 and a one year high of C$19.79. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The company has a market cap of C$3.77 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The firm has a fifty day simple moving average of C$17.55 and a 200-day simple moving average of C$16.64.

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.