Peyto Exploration & Development (TSE:PEY) Sets New 1-Year High – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) shares reached a new 52-week high on Monday . The company traded as high as C$27.37 and last traded at C$26.30, with a volume of 309584 shares traded. The stock had previously closed at C$26.43.

Wall Street Analyst Weigh In

PEY has been the subject of a number of recent research reports. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$23.50 to C$24.50 in a report on Monday, November 24th. TD Securities downgraded shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price objective on the stock. in a report on Friday, February 20th. Scotiabank upped their price objective 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. Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$21.00 to C$25.00 in a research report on Tuesday, January 13th. Finally, Royal Bank Of Canada upped their target price on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Peyto Exploration & Development presently has an average rating of “Moderate Buy” and a consensus price target of C$23.90.

Peyto Exploration & Development Stock Performance

The stock has a market capitalization of C$5.31 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of -0.46 and a beta of -0.21. The company has a 50 day simple moving average of C$24.10 and a 200-day simple moving average of C$21.51. 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 Buying and Selling

In other Peyto Exploration & Development news, insider Riley Millar Frame bought 11,500 shares of the business’s stock in a transaction on Monday, December 15th. The stock was purchased at an average price of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the transaction, the insider directly owned 128,877 shares of the company’s stock, valued at C$2,935,818.06. This trade represents a 9.80% increase in their ownership of the stock. 2.36% of the stock is currently owned by company 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.