Lowering Peyto FVE; Stock Looks Fairly Valued
After fully incorporating Peyto’s first-quarter financial operating results, we are dialing back our fair value estimate to CAD 26 per share from our previous estimate of CAD 29 per share. Peyto’s higher realized price differentials and increase in operating cost structure are the primary drivers to our lowered estimate. Furthermore, we are maintaining our narrow moat rating. The stock has declined nearly 25% in the past six months, and is now trading near CAD 26 per share, which approximates ou...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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