Peyto Exploration & Development (OTCMKTS:PEYUF) Stock Price Up 2.2% – Time to Buy?

Shares of Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) traded up 2.2% during mid-day trading on Monday . The stock traded as high as $18.53 and last traded at $18.45. 56,387 shares were traded during trading, a decline of 53% from the average session volume of 120,912 shares. The stock had previously closed at $18.0610.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. TD Securities cut shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. TD Cowen lowered Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Peyto Exploration & Development in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Peyto Exploration & Development presently has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Trading Up 2.2%

The firm’s fifty day simple moving average is $18.62 and its 200-day simple moving average is $18.05.

About Peyto Exploration & Development

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.