Peyto Exploration & Development (PEY) Given New C$13.00 Price Target at National Bank Financial

Peyto Exploration & Development (TSE:PEY) had its price objective reduced by investment analysts at National Bank Financial from C$14.50 to C$13.00 in a research report issued on Wednesday. The firm currently has a “c$10.49” rating on the stock. National Bank Financial’s price target indicates a potential upside of 23.93% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Canaccord Genuity reduced their target price on Peyto Exploration & Development from C$25.00 to C$18.00 in a research note on Tuesday, July 10th. CIBC increased their price objective on Peyto Exploration & Development from C$12.00 to C$12.50 in a research note on Tuesday, March 20th. Scotiabank dropped their target price on Peyto Exploration & Development from C$17.50 to C$15.00 and set a “sector perform” rating for the company in a report on Monday, March 26th. Raymond James upped their target price on Peyto Exploration & Development from C$15.50 to C$16.00 in a report on Friday, April 6th. Finally, GMP Securities set a C$16.00 price target on Peyto Exploration & Development in a report on Wednesday, May 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Peyto Exploration & Development has an average rating of “Buy” and a consensus price target of C$14.85.

TSE:PEY opened at C$10.49 on Wednesday. Peyto Exploration & Development has a twelve month low of C$9.83 and a twelve month high of C$23.60.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings results on Tuesday, May 8th. The company reported C$0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.35 by C($0.06). Peyto Exploration & Development had a return on equity of 10.84% and a net margin of 30.65%. The business had revenue of C$155.17 million for the quarter.

In other news, Director Stephen Jonathan Chetner sold 50,000 shares of the business’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of C$10.35, for a total value of C$517,500.00.

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 Canada. The company's oil and gas properties are located in the Alberta's Deep Basin. As of December 31, 2017, it had a total proved plus probable reserves of 722 million barrels of oil equivalent.

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