Peyto Exploration & Development (TSE:PEY) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Peyto Exploration & Development Corp. (TSE:PEY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.82 and traded as high as C$17.46. Peyto Exploration & Development shares last traded at C$17.33, with a volume of 716,523 shares traded.

Wall Street Analyst Weigh In

PEY has been the topic of several recent research reports. CIBC raised their price objective on Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. 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 report on Thursday, March 13th. BMO Capital Markets increased their target price on Peyto Exploration & Development from C$17.50 to C$18.50 in a research report on Tuesday, January 14th. Finally, TD Securities increased their target price on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$18.67.

Peyto Exploration & Development Price Performance

The firm has a market cap of C$3.44 billion, a PE ratio of 11.68, a PEG ratio of -0.46 and a beta of 1.75. The firm has a fifty day simple moving average of C$16.18 and a two-hundred day simple moving average of C$15.82. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28.

Insider Buying and Selling at Peyto Exploration & Development

In related news, Director Jean-Paul Henri Lachance bought 5,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of C$15.85 per share, for a total transaction of C$79,250.00. Also, Director Stephen Jonathan Chetner sold 7,012 shares of Peyto Exploration & Development stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of C$15.99, for a total value of C$112,145.72. In the last quarter, insiders bought 14,150 shares of company stock worth $230,994 and sold 203,509 shares worth $3,402,675. 2.36% of the stock is currently owned by company 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.