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

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $17.43 and traded as high as $17.73. Peyto Exploration & Development shares last traded at $17.6980, with a volume of 35,700 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Peyto Exploration & Development in a research report on Friday, October 9th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Stock Performance

The firm’s fifty day moving average is $17.43 and its 200 day moving average is $18.20.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp. is a Canadian energy company focused on the exploration, development and production of natural gas and natural gas liquids. The company also owns and operates related gathering, processing and transportation infrastructure used to move its production to market. Peyto’s operations are concentrated in Alberta’s Deep Basin, part of the Western Canada Sedimentary Basin. Its activities include drilling and completing wells, developing natural gas reserves and managing an integrated network of field facilities and processing assets.