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

Peyto Exploration & Development Corp. (TSE:PEY)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analyst Ratings Changes

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

Peyto Exploration & Development Stock Performance

The company has a quick ratio of 0.32, a current ratio of 1.37 and a debt-to-equity ratio of 36.62. The company has a market capitalization of C$5.35 billion, a PE ratio of 11.31, a PEG ratio of -0.46 and a beta of -0.50. The business has a 50 day simple moving average of C$24.95 and a 200 day simple moving average of C$25.32.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.82 earnings per share 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 for the quarter.

Insider Activity

In related news, insider Michael Richard Collens sold 13,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$24.25, for a total value of C$315,250.00. Following the transaction, the insider directly owned 27,386 shares of the company’s stock, valued at C$664,110.50. This represents a 32.19% decrease in their position. Also, insider Tavis Aaron Carlson bought 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The stock was purchased at an average cost of C$24.05 per share, for a total transaction of C$52,910.00. Following the completion of the transaction, the insider owned 64,447 shares in the company, valued at C$1,549,950.35. This trade represents a 3.53% increase in their ownership of the stock. Over the last ninety days, insiders sold 413,042 shares of company stock valued at $10,392,741. 2.36% of the stock is owned by corporate 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.