Peyto Exploration & Development (TSE:PEY) Sets New 1-Year High – Here’s Why

Peyto Exploration & Development Corp. (TSE:PEY) shares reached a new 52-week high on Friday . The stock traded as high as C$21.98 and last traded at C$21.83, with a volume of 791436 shares traded. The stock had previously closed at C$20.78.

Analyst Upgrades and Downgrades

Separately, CIBC lifted their price target on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Peyto Exploration & Development presently has a consensus rating of “Hold” and an average price target of C$21.44.

Peyto Exploration & Development Stock Up 4.7%

The firm’s 50 day simple moving average is C$19.38 and its 200-day simple moving average is C$19.18. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. The stock has a market capitalization of C$4.37 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of -0.46 and a beta of -0.16.

Insider Activity at Peyto Exploration & Development

In related news, insider Michael Richard Collens sold 26,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of C$18.80, for a total value of C$488,800.00. Following the transaction, the insider owned 25,000 shares in the company, valued at approximately C$470,000. This represents a 50.98% decrease in their position. Also, insider Riley Millar Frame sold 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of C$18.45, for a total value of C$867,239.30. Following the sale, the insider owned 127,527 shares of the company’s stock, valued at approximately C$2,353,115.45. This represents a 26.93% decrease in their position. In the last ninety days, insiders bought 14,450 shares of company stock worth $267,380. Insiders own 2.36% of the company’s stock.

About Peyto Exploration & Development

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.