Peyto Exploration & Development (OTCMKTS:PEYUF) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $19.21 and traded as low as $18.78. Peyto Exploration & Development shares last traded at $19.17, with a volume of 68,912 shares.

Analysts Set New Price Targets

PEYUF has been the subject of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of Peyto Exploration & Development in a report on Wednesday, January 21st. TD Securities downgraded Peyto Exploration & Development from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a “neutral” rating to an “outperform” rating in a report on Thursday, January 15th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Peyto Exploration & Development in a report on Friday, February 20th. Finally, TD Cowen downgraded Peyto Exploration & Development from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Peyto Exploration & Development has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Trading Up 0.7%

The firm has a fifty day moving average price of $19.21 and a two-hundred day moving average price of $17.27.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. is a Calgary-based Canadian energy company engaged in the exploration, development and production of natural gas and natural gas liquids. The company focuses on exploiting liquids-rich natural gas opportunities in the Deep Basin and Brazeau areas of west central Alberta. Peyto’s integrated business model encompasses land acquisition, well planning, drilling, completion and production operations, supported by in-house technical, engineering and operations teams.

Since its incorporation in 1998, Peyto has concentrated its activities entirely within Alberta’s prolific Montney, Falher and Notikewin formations.