Peyto Exploration & Development (TSE:PEY) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Peyto Exploration & Development Corp. (TSE:PEY) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$25.25 and traded as low as C$24.79. Peyto Exploration & Development shares last traded at C$24.84, with a volume of 1,293,430 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PEY. Ventum Financial set a C$31.00 price target on shares of Peyto Exploration & Development and gave the stock a “buy” rating in a research note on Friday, October 23rd. National Bank Financial lifted their target price on Peyto Exploration & Development from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$27.19.

Peyto Exploration & Development Trading Down 3.9%

The stock has a 50 day moving average of C$24.62 and a 200-day moving average of C$25.25. The company has a market capitalization of C$5.09 billion, a P/E ratio of 10.39, a P/E/G ratio of -0.46 and a beta of -0.23. The company has a current ratio of 1.63, a quick ratio of 0.32 and a debt-to-equity ratio of 34.98.

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

Insiders Place Their Bets

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