Peyto Exploration & Development (TSE:PEY) Sets New 52-Week High – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) reached a new 52-week high during mid-day trading 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

PEY has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price target on Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. TD Securities lowered Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price objective on the stock. in a research report on Friday, February 20th. Scotiabank boosted their target price on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. 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. Finally, Canadian Imperial Bank of Commerce raised Peyto Exploration & Development from a “hold” rating to an “outperform” rating and raised their price target for the stock from C$21.00 to C$25.00 in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$24.55.

Peyto Exploration & Development Stock Up 2.0%

The company has a quick ratio of 0.32, a current ratio of 0.98 and a debt-to-equity ratio of 41.44. The company’s fifty day simple moving average is C$24.90 and its 200 day simple moving average is C$21.99. The firm has a market capitalization of C$5.89 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of -0.46 and a beta of -0.20.

Insider Buying and Selling at Peyto Exploration & Development

In other news, insider Riley Millar Frame purchased 11,500 shares of Peyto Exploration & Development stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average cost of C$22.78 per share, with a total value of C$261,970.00. Following the completion of the purchase, the insider directly owned 128,877 shares in the company, valued at approximately C$2,935,818.06. This trade represents a 9.80% increase in their ownership of the stock. 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.