Peyto Exploration & Development (TSE:PEY) Reaches New 1-Year High – Here’s Why

Peyto Exploration & Development Corp. (TSE:PEY)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$18.30 and last traded at C$18.23, with a volume of 496529 shares trading hands. The stock had previously closed at C$17.41.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PEY shares. BMO Capital Markets increased their price target on shares of Peyto Exploration & Development from C$17.50 to C$18.50 in a report on Tuesday, January 14th. Desjardins raised their price target on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “hold” rating in a research report on Thursday, March 13th. TD Securities upped their price objective on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, CIBC raised their price objective on Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$18.67.

Peyto Exploration & Development Stock Performance

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 business’s fifty day simple moving average is C$16.18 and its 200-day simple moving average is C$15.86. The firm has a market cap of C$3.57 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

Insider Buying and Selling at Peyto Exploration & Development

In other news, Director Jean-Paul Henri Lachance purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of C$15.85 per share, for a total transaction of C$79,250.00. Also, Senior Officer Tavis Aaron Carlson sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of C$17.35, for a total value of C$433,750.00. In the last 90 days, insiders acquired 14,150 shares of company stock valued at $230,994 and sold 203,509 shares valued at $3,402,675. 2.36% of the stock is currently owned by corporate 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.