Peyto Exploration & Development (TSE:PEY) Sets New 1-Year High – Still a Buy?

Peyto Exploration & Development Corp. (TSE:PEY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$26.88 and last traded at C$26.73, with a volume of 87895 shares traded. The stock had previously closed at C$26.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Securities cut Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price target for the company. in a research note on Friday. Canaccord Genuity Group boosted their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and upped their price objective for the company from C$23.50 to C$24.50 in a research note on Monday, November 24th. Royal Bank Of Canada lifted their target price on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Scotiabank boosted their target price on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$23.90.

Peyto Exploration & Development Price Performance

The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The firm has a market capitalization of C$5.24 billion, a price-to-earnings ratio of 14.10, a PEG ratio of -0.46 and a beta of -0.21. The business’s fifty day simple moving average is C$23.71 and its 200 day simple moving average is C$21.23.

Insiders Place Their Bets

In other Peyto Exploration & Development news, insider Todd Burdick sold 52,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of C$22.21, for a total transaction of C$1,154,920.00. Following the completion of the sale, the insider owned 208,206 shares in the company, valued at approximately C$4,624,255.26. The trade was a 19.98% decrease in their position. Also, insider Riley Millar Frame acquired 11,500 shares of the company’s stock in a transaction on Monday, December 15th. The stock was acquired at an average cost of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the purchase, the insider directly owned 128,877 shares of the company’s stock, valued at approximately C$2,935,818.06. This represents a 9.80% increase in their position. Insiders have sold a total of 175,000 shares of company stock worth $3,870,120 in the last quarter. Insiders own 2.36% of the company’s stock.

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.