Peyto Exploration & Development (TSE:PEY) Shares Break Above Two Hundred Day Moving Average – Should You Sell?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$24.91 and traded as high as C$25.70. Peyto Exploration & Development shares last traded at C$25.35, with a volume of 1,028,294 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on PEY. Scotiabank raised shares of Peyto Exploration & Development to a “hold” rating in a research note on Friday, June 26th. Ventum Financial set a C$31.00 price target on shares of Peyto Exploration & Development and gave the company a “buy” rating in a research note on Friday. Finally, National Bank Financial boosted their price target on shares of 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, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$27.19.

Peyto Exploration & Development Price Performance

The firm has a market cap of C$5.23 billion, a PE ratio of 10.68, a PEG ratio of -0.46 and a beta of -0.23. The company has a 50 day moving average price of C$24.58 and a 200 day moving average price of C$24.91. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.63 and a quick ratio of 0.32.

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

Insider Transactions at Peyto Exploration & Development

In related news, insider Lee Russell Curran sold 28,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$25.45, for a total value of C$712,600.00. Following the completion of the transaction, the insider directly owned 436,270 shares in the company, valued at approximately C$11,103,071.50. This represents a 6.03% decrease in their ownership of the stock. Also, Director Stephen Jonathan Chetner sold 2,229 shares of Peyto Exploration & Development stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of C$25.18, for a total value of C$56,126.22. Following the completion of the sale, the director owned 97,805 shares of the company’s stock, valued at C$2,462,729.90. This trade represents a 2.23% decrease in their position. Insiders have sold 90,229 shares of company stock worth $2,275,786 in the last quarter. Insiders own 2.36% of the company’s stock.

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.