Michael Eugene Rees Sells 20,000 Shares of Peyto Exploration & Development (TSE:PEY) Stock

Peyto Exploration & Development Corp. (TSE:PEY) insider Michael Eugene Rees sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of C$21.48, for a total transaction of C$429,600.00. Following the completion of the transaction, the insider directly owned 38,054 shares of the company’s stock, valued at C$817,399.92. This represents a 34.45% decrease in their ownership of the stock.

Peyto Exploration & Development Stock Performance

TSE PEY opened at C$22.98 on Monday. The firm has a market capitalization of C$4.64 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of -0.46 and a beta of -0.28. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. The firm’s fifty day moving average price is C$21.01 and its two-hundred day moving average price is C$19.75. Peyto Exploration & Development Corp. has a 1 year low of C$14.57 and a 1 year high of C$23.74.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEY. CIBC lifted their price target on Peyto Exploration & Development from C$19.25 to C$21.00 in a report on Wednesday, October 15th. Desjardins upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. TD Securities boosted their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group raised their price target on Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Peyto Exploration & Development presently has an average rating of “Moderate Buy” and an average price target of C$22.44.

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.