Peyto Exploration & Development (OTCMKTS:PEYUF) Shares Cross Below 50-Day Moving Average – What’s Next?

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.44 and traded as low as $16.97. Peyto Exploration & Development shares last traded at $17.27, with a volume of 73,106 shares.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PEYUF shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Peyto Exploration & Development in a research report on Friday, February 20th. TD Cowen downgraded shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, TD Securities cut shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Peyto Exploration & Development presently has an average rating of “Moderate Buy”.

Peyto Exploration & Development Trading Down 0.9%

The company has a fifty day simple moving average of $18.44 and a 200-day simple moving average of $18.18.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. is a Calgary-based Canadian energy company engaged in the exploration, development and production of natural gas and natural gas liquids. The company focuses on exploiting liquids-rich natural gas opportunities in the Deep Basin and Brazeau areas of west central Alberta. Peyto’s integrated business model encompasses land acquisition, well planning, drilling, completion and production operations, supported by in-house technical, engineering and operations teams.

Since its incorporation in 1998, Peyto has concentrated its activities entirely within Alberta’s prolific Montney, Falher and Notikewin formations.