Canaccord Genuity Trims Peyto Exploration & Development (TSE:PEY) Target Price to C$7.00

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Peyto Exploration & Development (TSE:PEY) had its price objective lowered by Canaccord Genuity from C$11.00 to C$7.00 in a research note released on Tuesday, BayStreet.CA reports.

Other analysts have also issued research reports about the stock. GMP Securities restated a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Eight Capital set a C$6.00 target price on shares of Peyto Exploration & Development in a research report on Wednesday, May 8th. Raymond James set a $31.00 target price on shares of Mylan and gave the company a buy rating in a research report on Wednesday, May 8th. BMO Capital Markets restated a hold rating and issued a $9.50 target price on shares of Vicon Industries in a research report on Friday, June 14th. Finally, TD Securities lowered shares of Tricon Capital Group from an action list buy rating to a buy rating and cut their target price for the company from C$14.50 to C$13.50 in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Peyto Exploration & Development currently has a consensus rating of Hold and a consensus price target of C$7.20.

TSE PEY opened at C$4.04 on Tuesday. The company has a debt-to-equity ratio of 72.53, a current ratio of 1.23 and a quick ratio of 0.88. The firm has a market cap of $643.01 million and a price-to-earnings ratio of 6.26. The stock’s 50 day moving average price is C$4.25. Peyto Exploration & Development has a 1 year low of C$3.71 and a 1 year high of C$12.44.

Peyto Exploration & Development (TSE:PEY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$0.15 earnings per share (EPS) for the quarter. The firm had revenue of C$151.66 million for the quarter. Equities research analysts predict that Peyto Exploration & Development will post 0.21 earnings per share for the current year.

In other Peyto Exploration & Development news, Director Michael Macbean sold 17,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 3,500 shares in the company, valued at C$13,790.

Peyto Exploration & Development Company Profile

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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Analyst Recommendations for Peyto Exploration & Development (TSE:PEY)

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