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

Peyto Exploration & Development Corp. (TSE:PEY) shares hit a new 52-week high on Monday . The company traded as high as C$18.30 and last traded at C$18.23, with a volume of 496529 shares changing hands. The stock had previously closed at C$17.41.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEY shares. TD Securities lifted their price objective on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, February 21st. Desjardins lifted their price objective on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “hold” rating in a report on Thursday, March 13th. CIBC upped their price objective on Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. Finally, BMO Capital Markets upgraded Peyto Exploration & Development from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$18.50 to C$19.50 in a research note on Monday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$18.78.

Peyto Exploration & Development Price Performance

The company has a market capitalization of C$3.64 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of -0.46 and a beta of 1.75. The stock has a fifty day simple moving average of C$16.23 and a 200-day simple moving average of C$15.91. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Insider Activity at Peyto Exploration & Development

In related news, Senior Officer Tavis Aaron Carlson purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of C$17.17 per share, with a total value of C$34,340.00. Also, Senior Officer Todd Burdick acquired 2,150 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was purchased at an average price of C$16.35 per share, for a total transaction of C$35,153.58. In the last 90 days, insiders acquired 14,150 shares of company stock worth $230,994 and sold 203,509 shares worth $3,402,675. 2.36% of the stock is owned by company insiders.

Peyto Exploration & Development Company Profile

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.