Peyto Exploration & Development (TSE:PEY) Shares Pass Above 200 Day Moving Average – Time to Sell?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.03 and traded as high as C$18.31. Peyto Exploration & Development shares last traded at C$18.23, with a volume of 733,936 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PEY shares. CIBC boosted their price target on Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. Desjardins boosted their price target on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday, March 13th. BMO Capital Markets upgraded Peyto Exploration & Development from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$18.50 to C$19.50 in a research report on Monday, March 24th. Finally, TD Securities boosted their target price on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Peyto Exploration & Development currently has a consensus rating of “Buy” and an average target price of C$18.78.

Peyto Exploration & Development Trading Up 0.7 %

The stock has a fifty day moving average price of C$16.40 and a 200 day moving average price of C$16.05. The stock has a market cap of C$3.68 billion, a PE ratio of 12.49, a PEG ratio of -0.46 and a beta of 1.75. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28.

Insiders Place Their Bets

In other news, Senior Officer Lee Russell Curran sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of C$17.31, for a total transaction of C$484,806.00. Also, Director Jean-Paul Henri Lachance purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of C$15.85 per share, with a total value of C$79,250.00. Over the last three months, insiders bought 12,150 shares of company stock valued at $196,654 and sold 203,509 shares valued at $3,402,675. 2.36% of the stock is owned by 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.