Peyto Exploration & Dev Receives a Hold from BMO Capital

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Peyto Exploration & Dev (TSX: PEY). The company received a Hold yesterday from BMO Capital’s analyst Randy Ollenberger, with a C$15 price target.

According to TipRanks.com, Ollenberger is a 2-star analyst with an average return of 0.8% and a 55.3% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Spectra Energy Partners.

Peyto Exploration & Dev has an analyst consensus of Moderate Buy, with a price target consensus of C$21.17.

Based on Peyto Exploration & Dev’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$146 million and quarterly net profit of C$44.82 million. In comparison, last year the company earned revenue of C$183 million and had a net profit of C$38.49 million.

Peyto Exploration & Development Corp. is an energy company. It engages in the acquisition, exploration, development and production of oil and natural gas. The firm’s portfolio of assets includes exploration, exploitation and development opportunities located in the Deep Basin of Alberta. The company was founded by Richard F. Braund and Donald T.

The company’s shares closed on Thursday at C$13.19, close to its 52-week low of C$13.05.