Peyto Exploration & Development (OTCMKTS:PEYUF) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $19.21 and traded as low as $18.78. Peyto Exploration & Development shares last traded at $19.17, with a volume of 68,912 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on PEYUF shares. Royal Bank Of Canada reissued a “sector perform” rating on shares of Peyto Exploration & Development in a research note on Friday, February 20th. Scotiabank reaffirmed an “outperform” rating on shares of Peyto Exploration & Development in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 15th. TD Securities cut Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, TD Cowen cut Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Peyto Exploration & Development currently has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Stock Up 0.3%

The business has a 50 day moving average of $19.21 and a 200 day moving average of $17.27.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp. is a Calgary-based Canadian energy company engaged in the exploration, development and production of natural gas and natural gas liquids. The company focuses on exploiting liquids-rich natural gas opportunities in the Deep Basin and Brazeau areas of west central Alberta. Peyto’s integrated business model encompasses land acquisition, well planning, drilling, completion and production operations, supported by in-house technical, engineering and operations teams.

Since its incorporation in 1998, Peyto has concentrated its activities entirely within Alberta’s prolific Montney, Falher and Notikewin formations.