Peyto Exploration & Development (TSE:PEY) Sets New 52-Week High – Should You Buy?

Shares of Peyto Exploration & Development Corp. (TSE:PEY) reached a new 52-week high on Wednesday . The stock traded as high as C$28.14 and last traded at C$28.04, with a volume of 482438 shares. The stock had previously closed at C$26.93.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on 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, February 20th. TD Securities downgraded shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price objective for the company. in a research report on Friday, February 20th. Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$21.00 to C$25.00 in a research note on Tuesday, January 13th. Canaccord Genuity Group lifted their price target on Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. Finally, Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and increased their price objective for the company from C$23.50 to C$24.50 in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Peyto Exploration & Development has an average rating of “Moderate Buy” and a consensus price target of C$23.90.

Peyto Exploration & Development Price Performance

The firm has a market cap of C$5.64 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of -0.46 and a beta of -0.20. The business’s 50-day moving average price is C$24.68 and its two-hundred day moving average price is C$21.90. The company has a debt-to-equity ratio of 44.84, a current ratio of 0.91 and a quick ratio of 0.32.

Insider Activity

In related news, insider Riley Millar Frame bought 11,500 shares of Peyto Exploration & Development stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of C$22.78 per share, for a total transaction of C$261,970.00. Following the completion of the purchase, the insider owned 128,877 shares in the company, valued at approximately C$2,935,818.06. This represents a 9.80% increase in their ownership of the stock. Corporate insiders own 2.36% of the company’s stock.

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.