Peyto Exploration & Development (OTCMKTS:PEYUF) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.44 and traded as low as $16.97. Peyto Exploration & Development shares last traded at $17.27, with a volume of 73,106 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Peyto Exploration & Development in a research note on Friday, February 20th. TD Cowen cut shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, TD Securities downgraded shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Peyto Exploration & Development has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Price Performance

The stock has a 50 day simple moving average of $18.41 and a 200-day simple moving average of $18.17.

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.