Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$20.62 and traded as high as C$24.42. Peyto Exploration & Development shares last traded at C$24.04, with a volume of 1,362,580 shares.

Analyst Ratings Changes

PEY has been the subject of several research analyst reports. Scotiabank upped their price target on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$23.50 to C$24.50 in a research report on Monday, November 24th. TD Securities lifted their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Canaccord Genuity Group increased their target price on Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. Finally, Cibc Captl Mkts raised shares of Peyto Exploration & Development from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Peyto Exploration & Development currently has an average rating of “Moderate Buy” and a consensus target price of C$23.30.

Peyto Exploration & Development Stock Down 2.0%

The firm’s fifty day moving average is C$22.81 and its two-hundred day moving average is C$20.62. The firm has a market cap of C$4.85 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of -0.46 and a beta of -0.46. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Insider Transactions at Peyto Exploration & Development

In related news, Director Jean-Paul Henri Lachance sold 74,000 shares of the stock in a transaction on Thursday, November 27th. The stock was sold at an average price of C$22.00, for a total value of C$1,628,000.00. Following the completion of the transaction, the director owned 501,731 shares in the company, valued at C$11,038,082. This trade represents a 12.85% decrease in their position. Also, insider Michael Richard Collens sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of C$21.96, for a total transaction of C$285,480.00. Following the completion of the sale, the insider owned 25,000 shares of the company’s stock, valued at approximately C$549,000. This trade represents a 34.21% decrease in their position. Insiders sold 337,400 shares of company stock valued at $7,383,580 in the last quarter. 2.36% of the stock is 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.