Peyto Exploration & Development (TSE:PEY) Stock Passes Above 200-Day Moving Average – What’s Next?

Peyto Exploration & Development Corp. (TSE:PEY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.82 and traded as high as C$17.46. Peyto Exploration & Development shares last traded at C$17.33, with a volume of 716,523 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Peyto Exploration & Development from C$17.50 to C$18.50 in a research note on Tuesday, January 14th. Desjardins lifted their price objective on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a report on Thursday, March 13th. CIBC lifted their price objective on Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. Finally, TD Securities lifted their price target on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$18.67.

Peyto Exploration & Development Trading Up 0.5 %

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 business’s 50-day moving average is C$16.18 and its two-hundred day moving average is C$15.84. The firm has a market cap of C$3.46 billion, a P/E ratio of 11.74, a P/E/G ratio of -0.46 and a beta of 1.75.

Insider Transactions at Peyto Exploration & Development

In related news, Senior Officer Tavis Aaron Carlson purchased 2,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of C$17.17 per share, for a total transaction of C$34,340.00. Also, Director Jean-Paul Henri Lachance purchased 5,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of C$15.85 per share, with a total value of C$79,250.00. Over the last quarter, insiders bought 14,150 shares of company stock worth $230,994 and sold 203,509 shares worth $3,402,675. 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.