Peyto Exploration & Development (TSE:PEY) Insider Sells C$429,600.00 in Stock

Peyto Exploration & Development Corp. (TSE:PEY) insider Michael Eugene Rees sold 20,000 shares of Peyto Exploration & Development stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of C$21.48, for a total value of C$429,600.00. Following the completion of the transaction, the insider owned 38,054 shares of the company’s stock, valued at approximately C$817,399.92. This trade represents a 34.45% decrease in their ownership of the stock.

Peyto Exploration & Development Price Performance

PEY stock traded up C$0.06 during mid-day trading on Friday, reaching C$22.98. 739,440 shares of the company traded hands, compared to its average volume of 879,734. The company has a fifty day moving average price of C$21.01 and a 200-day moving average price of C$19.74. Peyto Exploration & Development Corp. has a 52-week low of C$14.57 and a 52-week high of C$23.74. The company has a market capitalization of C$4.64 billion, a P/E ratio of 12.49, a P/E/G ratio of -0.46 and a beta of -0.28. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Wall Street Analyst Weigh In

PEY has been the subject of several recent analyst reports. TD Securities boosted their price objective on shares of Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group boosted their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a research report on Friday, November 14th. CIBC upped their price target on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a report on Wednesday, October 15th. Finally, Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$23.50 to C$24.50 in a research note on Monday, November 24th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$22.44.

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.