Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$25.32 and traded as high as C$26.39. Peyto Exploration & Development shares last traded at C$26.13, with a volume of 832,316 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEY shares. National Bank Financial raised their price target on shares of Peyto Exploration & Development from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Scotiabank upgraded shares of Peyto Exploration & Development to a “hold” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$26.64.

Peyto Exploration & Development Price Performance

The firm has a 50-day simple moving average of C$24.95 and a two-hundred day simple moving average of C$25.32. The company has a market capitalization of C$5.35 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of -0.46 and a beta of -0.50. The company has a current ratio of 1.37, a quick ratio of 0.32 and a debt-to-equity ratio of 36.62.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.82 earnings per share (EPS) for the quarter. Peyto Exploration & Development had a return on equity of 16.78% and a net margin of 40.47%.The business had revenue of C$426.40 million during the quarter.

Insider Activity at Peyto Exploration & Development

In other Peyto Exploration & Development news, insider Derick Nathan Czember sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$26.00, for a total value of C$910,000.00. Following the sale, the insider owned 111,199 shares in the company, valued at approximately C$2,891,174. This represents a 23.94% decrease in their position. Also, insider Todd Burdick sold 27,633 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of C$25.82, for a total value of C$713,484.06. Following the completion of the sale, the insider owned 230,500 shares in the company, valued at approximately C$5,951,510. This represents a 10.70% decrease in their position. Insiders sold 413,042 shares of company stock valued at $10,392,741 in the last 90 days. 2.36% of the stock is currently owned by corporate insiders.

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.