Peyto Exploration & Development (TSE:PEY) Sets New 52-Week High – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$27.37 and last traded at C$26.30, with a volume of 309584 shares traded. The stock had previously closed at C$26.43.

Analyst Ratings Changes

Several equities analysts have issued reports on PEY shares. Royal Bank Of Canada upped their price target on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Canaccord Genuity Group increased their price objective on Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and raised their target price for the stock from C$23.50 to C$24.50 in a research report on Monday, November 24th. Canadian Imperial Bank of Commerce raised Peyto Exploration & Development from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$21.00 to C$25.00 in a report on Tuesday, January 13th. Finally, TD Securities lowered Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price target on the stock. in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Peyto Exploration & Development currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.90.

Peyto Exploration & Development Price Performance

The firm has a market cap of C$5.36 billion, a P/E ratio of 14.43, a P/E/G ratio of -0.46 and a beta of -0.21. The company has a quick ratio of 0.32, a current ratio of 0.91 and a debt-to-equity ratio of 44.84. The business’s 50 day moving average is C$24.25 and its two-hundred day moving average is C$21.61.

Insider Activity

In other Peyto Exploration & Development news, insider Riley Millar Frame bought 11,500 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of C$22.78 per share, for a total transaction of C$261,970.00. Following the transaction, the insider directly owned 128,877 shares in the company, valued at approximately C$2,935,818.06. This trade represents a 9.80% increase in their ownership of the stock. 2.36% of the stock is owned by corporate insiders.

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.