Peyto Exploration & Development (TSE:PEY) Reaches New 52-Week High – Still a Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price reached a new 52-week high during trading on Friday . The company 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 raised their price objective on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$21.44.

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 stock’s 50-day moving average price is C$19.38 and its 200 day moving average price is C$19.18. The company has a market cap of C$4.37 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of -0.46 and a beta of -0.16.

Insider Activity

In other news, insider Riley Millar Frame sold 47,000 shares of the company’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 directly owned 127,527 shares in the company, valued at approximately C$2,353,115.45. This represents a 26.93% decrease in their position. Also, insider Crissy Rafoss acquired 5,500 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were bought at an average price of C$18.51 per share, with a total value of C$101,805.00. Following the completion of the purchase, the insider directly owned 5,500 shares of the company’s stock, valued at approximately C$101,805. This represents a ∞ increase in their ownership of the stock. Over the last ninety days, insiders have bought 14,450 shares of company stock worth $267,380. 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.