Peyto Exploration & Development (TSE:PEY) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.03 and traded as high as C$18.31. Peyto Exploration & Development shares last traded at C$18.23, with a volume of 733,936 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on PEY. BMO Capital Markets upgraded shares of Peyto Exploration & Development from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$18.50 to C$19.50 in a report on Monday, March 24th. Desjardins lifted their price objective on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a research report on Thursday, March 13th. CIBC increased their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. Finally, TD Securities upped their price objective on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$18.78.

Peyto Exploration & Development Stock Up 0.7 %

The firm’s 50 day simple moving average is C$16.36 and its 200-day simple moving average is C$16.03. The company has a market cap of C$3.62 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of -0.46 and a beta of 1.75. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Insider Activity at Peyto Exploration & Development

In other news, Senior Officer Tavis Aaron Carlson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of C$17.35, for a total value of C$433,750.00. Also, Senior Officer Todd Burdick sold 24,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of C$17.16, for a total value of C$411,888.00. In the last three months, insiders bought 12,150 shares of company stock valued at $196,654 and sold 203,509 shares valued at $3,402,675. Insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp (Peyto Exploration & Development) is an oil and gas company that involves in the exploration and development of natural gas. The company acquires, explores, develops and produces crude oil and unconventional natural gas reserves.