Peyto Exploration & Development (TSE:PEY) Trading Down 2.2% – Time to Sell?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price traded down 2.2% during trading on Wednesday . The stock traded as low as C$14.60 and last traded at C$14.97. 824,422 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 927,946 shares. The stock had previously closed at C$15.30.

Wall Street Analysts Forecast Growth

PEY has been the topic of several research reports. BMO Capital Markets upgraded 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. Raymond James set a C$22.00 price target on shares of Peyto Exploration & Development and gave the company an “outperform” rating in a research report on Tuesday. Desjardins raised their price target on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “hold” rating in a research note on Thursday, March 13th. TD Securities raised their target price 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. Finally, CIBC upped their price target on Peyto Exploration & Development from C$17.00 to C$17.50 in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$19.10.

Peyto Exploration & Development Trading Up 4.8 %

The firm has a 50-day moving average of C$16.49 and a 200 day moving average of C$16.18. The company has a market cap of C$3.33 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96.

Insiders Place Their Bets

In other news, Director Jean-Paul Henri Lachance bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of C$15.85 per share, with a total value of C$79,250.00. Also, Senior Officer Todd Burdick purchased 2,150 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was purchased at an average price of C$16.35 per share, for a total transaction of C$35,153.58. In the last three months, insiders have acquired 12,150 shares of company stock worth $196,654 and have sold 126,509 shares worth $2,072,231. Company 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.