Peyto Exploration & Development (TSE:PEY) Sets New 12-Month High – Still a Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$25.70 and last traded at C$25.42, with a volume of 151464 shares changing hands. The stock had previously closed at C$25.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PEY shares. Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$21.00 to C$25.00 in a research report on Tuesday, January 13th. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$23.50 to C$24.50 in a report on Monday, November 24th. TD Securities upped their price objective on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Canaccord Genuity Group increased their target price on Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Finally, Scotiabank boosted their price target on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$23.30.

Peyto Exploration & Development Trading Up 1.0%

The company has a market capitalization of C$5.15 billion, a P/E ratio of 13.87, a PEG ratio of -0.46 and a beta of -0.21. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. The stock has a fifty day moving average of C$23.18 and a 200 day moving average of C$20.88.

Insider Activity

In other Peyto Exploration & Development news, insider Michael Richard Collens sold 28,500 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of C$21.45, for a total value of C$611,325.00. Following the completion of the sale, the insider owned 25,000 shares of the company’s stock, valued at C$536,250. This trade represents a 53.27% decrease in their ownership of the stock. Also, insider Todd Burdick sold 52,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of C$22.21, for a total value of C$1,154,920.00. Following the transaction, the insider owned 208,206 shares of the company’s stock, valued at approximately C$4,624,255.26. The trade was a 19.98% decrease in their position. Over the last quarter, insiders have sold 337,400 shares of company stock valued at $7,383,580. 2.36% of the stock is owned by corporate 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.