Peyto Exploration & Development (TSE:PEY) Sets New 1-Year High – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$24.48 and last traded at C$24.08, with a volume of 267118 shares trading hands. The stock had previously closed at C$24.14.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PEY shares. Cibc Captl Mkts upgraded shares of Peyto Exploration & Development from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. CIBC upgraded Peyto Exploration & Development from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Scotiabank increased their price objective on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and lifted their target price for the company from C$23.50 to C$24.50 in a research report on Monday, November 24th. Finally, TD Securities boosted their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Peyto Exploration & Development presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.30.

Peyto Exploration & Development Price Performance

The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. The company has a fifty day moving average price of C$22.65 and a two-hundred day moving average price of C$20.50. The company has a market cap of C$4.95 billion, a P/E ratio of 13.32, a PEG ratio of -0.46 and a beta of -0.46.

Insider Activity at Peyto Exploration & Development

In other Peyto Exploration & Development news, insider Michael Richard Collens sold 13,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of C$21.96, for a total value of C$285,480.00. Following the completion of the sale, the insider owned 25,000 shares in the company, valued at C$549,000. This trade represents a 34.21% decrease in their ownership of the stock. Also, insider Lee Russell Curran sold 28,000 shares of Peyto Exploration & Development stock in a transaction dated Monday, November 24th. The shares were sold at an average price of C$22.27, for a total transaction of C$623,560.00. Following the completion of the transaction, the insider directly owned 421,844 shares of the company’s stock, valued at approximately C$9,394,465.88. This trade represents a 6.22% decrease in their position. Over the last quarter, insiders have sold 337,400 shares of company stock worth $7,383,580. 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.