Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Peyto Exploration & Development Corp. (TSE:PEY) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$24.95 and traded as high as C$25.04. Peyto Exploration & Development shares last traded at C$25.01, with a volume of 987,119 shares.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PEY shares. Scotiabank raised shares of Peyto Exploration & Development to a “hold” rating in a research note on Friday, June 26th. National Bank Financial lifted their price target on Peyto Exploration & Development from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$26.64.

Peyto Exploration & Development Price Performance

The company has a 50 day simple moving average of C$24.49 and a 200 day simple moving average of C$24.94. The company has a market capitalization of C$5.27 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of -0.46 and a beta of -0.23. The company has a quick ratio of 0.32, a current ratio of 1.63 and a debt-to-equity ratio of 34.98.

Peyto Exploration & Development (TSE:PEY) last announced its quarterly earnings results on Tuesday, August 11th. The company reported C$0.50 earnings per share for the quarter. Peyto Exploration & Development had a net margin of 39.78% and a return on equity of 16.96%. The firm had revenue of C$340.45 million for the quarter.

Insider Activity

In related news, insider Riley Millar Frame sold 27,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of C$24.83, for a total value of C$670,410.00. Following the completion of the sale, the insider directly owned 145,510 shares in the company, valued at approximately C$3,613,013.30. This represents a 15.65% decrease in their position. Also, insider Crissy Rafoss sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of C$25.05, for a total value of C$200,400.00. Following the completion of the transaction, the insider directly owned 26,868 shares in the company, valued at C$673,043.40. This trade represents a 22.94% decrease in their ownership of the stock. Insiders sold 90,229 shares of company stock worth $2,275,786 in the last quarter. Insiders own 2.36% of the company’s stock.

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.