Peyto Exploration & Development (TSE:PEY) Reaches New 1-Year High – Should You Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$18.30 and last traded at C$18.23, with a volume of 496529 shares trading hands. The stock had previously closed at C$17.41.

Analysts Set New Price Targets

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

Peyto Exploration & Development Stock Performance

The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. The firm has a market capitalization of C$3.64 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of -0.46 and a beta of 1.75. The stock has a 50-day moving average price of C$16.23 and a 200 day moving average price of C$15.91.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember sold 62,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of C$16.18, for a total value of C$1,002,936.80. Also, Director Jean-Paul Henri Lachance sold 31,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$17.10, for a total transaction of C$542,070.00. In the last three months, insiders bought 14,150 shares of company stock valued at $230,994 and sold 203,509 shares valued at $3,402,675. Corporate 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.