Lowering Peyto Exploration's Fair Value Estimate; Stock Looks Fairly Valued
We are lowering our fair value estimate on narrow-moat Petyo Exploration to CAD 8 from CAD 11 to reflect our lower near-term commodity price forecasts and lower price realizations due to pipeline shortages. We consider Peyto to be one of the better businesses in the segment, driven by its low-cost structure. However, the recent downturn in AECO prices coupled with the company’s dividend cut limit upside in the investment. Accordingly, the stock looks fairly valued, we suggest that investors rema...Peyto Energy is an unincorporated open-ended limited purpose trust established under the laws of the Province of Alberta. Through its direct and indirect subsidiaries, Co. is engaged in the acquisition, exploration, development and production of oil and natural gas in Western Canada.
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