Peyto Exploration & Development (TSE:PEY) Reaches New 12-Month High – Should You 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$25.70 and last traded at C$25.42, with a volume of 151464 shares changing hands. The stock had previously closed at C$25.26.

Analyst Ratings Changes

PEY has been the topic of a number of research analyst reports. Scotiabank boosted their price target on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce raised Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Canaccord Genuity Group increased their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$23.50 to C$24.50 in a research note on Monday, November 24th. Finally, TD Securities upped their price objective on shares of Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Peyto Exploration & Development presently has an average rating of “Moderate Buy” and an average target price of C$23.30.

Peyto Exploration & Development Price Performance

The stock has a fifty day simple moving average of C$23.18 and a 200-day simple moving average of C$20.88. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. The company has a market capitalization of C$5.15 billion, a PE ratio of 13.87, a P/E/G ratio of -0.46 and a beta of -0.21.

Insider Activity

In other Peyto Exploration & Development news, insider Michael Richard Collens sold 13,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of C$21.96, for a total transaction of C$285,480.00. Following the completion of the sale, the insider directly owned 25,000 shares of the company’s stock, valued at approximately C$549,000. This trade represents a 34.21% decrease in their position. Also, insider Todd Burdick sold 52,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of C$22.21, for a total transaction of C$1,154,920.00. Following the transaction, the insider owned 208,206 shares of the company’s stock, valued at approximately C$4,624,255.26. The trade was a 19.98% decrease in their position. Insiders sold 337,400 shares of company stock worth $7,383,580 over the last quarter. 2.36% of the stock is owned by 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.