Peyto Exploration & Development (TSE:PEY) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Peyto Exploration & Development Corp. (TSE:PEY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.23 and traded as high as C$17.66. Peyto Exploration & Development shares last traded at C$17.44, with a volume of 1,041,468 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on PEY shares. BMO Capital Markets raised shares of Peyto Exploration & Development from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$18.50 to C$19.50 in a research report on Monday, March 24th. Desjardins lifted 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 report on Thursday, March 13th. TD Securities upped their price objective on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Friday, February 21st. CIBC raised their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. Finally, Raymond James set a C$22.00 price objective on shares of Peyto Exploration & Development and gave the stock an “outperform” rating in a report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$19.10.

Peyto Exploration & Development Stock Performance

The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The firm has a market cap of C$3.57 billion, a PE ratio of 12.11, a PEG ratio of -0.46 and a beta of 1.75. The business has a 50-day simple moving average of C$16.61 and a 200 day simple moving average of C$16.25.

Insider Buying and Selling

In other Peyto Exploration & Development news, Senior Officer Todd Burdick bought 2,150 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was purchased at an average cost of C$16.35 per share, with a total value of C$35,153.58. Also, Director Jean-Paul Henri Lachance acquired 5,000 shares of the company’s stock in a transaction 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. In the last ninety days, insiders bought 12,150 shares of company stock valued at $196,654. 2.36% of the stock is owned by corporate insiders.

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.