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

Peyto Exploration & Development Corp. (TSE:PEY)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$19.36 and traded as high as C$21.80. Peyto Exploration & Development shares last traded at C$21.44, with a volume of 674,652 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEY. Canaccord Genuity Group boosted their target price on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. TD Securities boosted their price objective on shares of Peyto Exploration & Development from C$21.00 to C$23.00 in a research report on Friday, November 14th. Finally, CIBC upped their price objective on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Peyto Exploration & Development has an average rating of “Hold” and a consensus target price of C$21.56.

Peyto Exploration & Development Stock Down 1.0%

The firm’s 50-day moving average price is C$19.80 and its 200-day moving average price is C$19.37. 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 company has a market cap of C$4.33 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of -0.46 and a beta of -0.16.

Insiders Place Their Bets

In related news, insider Crissy Rafoss bought 5,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 transaction, 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. Also, insider Riley Millar Frame sold 47,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of C$18.45, for a total transaction of C$867,239.30. Following the completion of the sale, the insider directly owned 127,527 shares of the company’s stock, valued at C$2,353,115.45. This trade represents a 26.93% decrease in their position. Insiders have purchased a total of 14,450 shares of company stock worth $267,380 over the last quarter. 2.36% of the stock is owned by corporate insiders.

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.