Peyto Exploration & Development (TSE:PEY) Stock Price Passes Above 200-Day Moving Average of $7.80

Peyto Exploration & Development Corp. (TSE:PEY) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.80 and traded as high as C$11.70. Peyto Exploration & Development shares last traded at C$11.45, with a volume of 330,421 shares traded.

Several research analysts recently commented on the stock. Canaccord Genuity reiterated a “buy” rating on shares of Peyto Exploration & Development in a research note on Thursday, September 16th. BMO Capital Markets boosted their price objective on shares of Peyto Exploration & Development to C$8.00 in a research note on Thursday, August 12th. Raymond James upped their price target on shares of Peyto Exploration & Development from C$9.00 to C$11.00 and gave the company an “outperform” rating in a research note on Tuesday, October 19th. CIBC upped their price target on shares of Peyto Exploration & Development from C$8.00 to C$11.00 and gave the company a “na” rating in a research note on Friday, October 15th. Finally, Scotiabank upped their price target on shares of Peyto Exploration & Development from C$13.00 to C$17.00 in a research note on Thursday, October 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Peyto Exploration & Development has an average rating of “Buy” and an average target price of C$9.05.

The stock’s fifty day moving average is C$9.83 and its 200-day moving average is C$7.80. The stock has a market capitalization of C$1.91 billion and a PE ratio of 13.09. The company has a debt-to-equity ratio of 84.02, a current ratio of 0.33 and a quick ratio of 0.29.

Peyto Exploration & Development (TSE:PEY) last announced its quarterly earnings results on Tuesday, November 9th. The company reported C$0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.12 by C$0.05. The firm had revenue of C$218.87 million for the quarter. On average, analysts forecast that Peyto Exploration & Development Corp. will post 1.7584257 EPS for the current year.

In other news, Senior Officer Scott Robinson sold 15,000 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of C$6.63, for a total value of C$99,477.00. Also, Senior Officer Jean-Paul Henri Lachance bought 10,000 shares of Peyto Exploration & Development stock in a transaction dated Tuesday, September 7th. The stock was acquired at an average price of C$7.00 per share, with a total value of C$70,000.00. Following the completion of the transaction, the insider now directly owns 133,260 shares of the company’s stock, valued at C$932,820. Over the last ninety days, insiders have acquired 29,000 shares of company stock worth $247,303 and have sold 116,758 shares worth $951,739.

About Peyto Exploration & Development (TSE:PEY)

Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin of Alberta. As of December 31, 2020, it had a total proved plus probable reserves of 834 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.

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