Peyto Exploration & Development (TSE:PEY) Insider Sells 21,000 Shares

Key Points

• Insider trading activity: Peyto Exploration & Development insider Tavis Aaron Carlson sold 21,000 shares on July 14 at an average price of C$24.05, trimming his position by about 24.6%. He also bought 2,200 shares the same day and previously sold 20,000 shares on June 10.
• Stock performance and valuation: PEY shares were down slightly to C$24.13, below both the 50-day and 200-day moving averages. The company has a market cap of C$4.94 billion and a P/E ratio of 10.45.
• Analyst sentiment remains positive: National Bank Financial raised its price target to C$30.00 with an outperform rating, while Scotiabank upgraded the stock to hold. Overall, the consensus rating is Moderate Buy with an average price target of C$26.64.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) insider Tavis Aaron Carlson sold 21,000 shares of the company's stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of C$24.05, for a total value of C$505,050.00. Following the completion of the transaction, the insider directly owned 64,447 shares of the company's stock, valued at approximately C$1,549,950.35. This trade represents a 24.58% decrease in their position.

Tavis Aaron Carlson also recently made the following trade(s):

• On Tuesday, July 14th, Tavis Aaron Carlson acquired 2,200 shares of Peyto Exploration & Development stock. The stock was purchased at an average price of C$24.05 per share, with a total value of C$52,910.00.
• On Wednesday, June 10th, Tavis Aaron Carlson sold 20,000 shares of Peyto Exploration & Development stock. The stock was sold at an average price of C$25.24, for a total value of C$504,800.00.

Peyto Exploration & Development Stock Performance

Shares of PEY traded down C$0.09 on Tuesday, reaching C$24.13. 269,568 shares of the stock traded hands, compared to its average volume of 944,289. The firm has a market cap of C$4.94 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of -0.46 and a beta of -0.50. The company has a debt-to-equity ratio of 36.62, a current ratio of 1.37 and a quick ratio of 0.32. Peyto Exploration & Development Corp. has a 12 month low of C$17.92 and a 12 month high of C$29.22. The stock's 50-day moving average price is C$25.10 and its 200-day moving average price is C$25.20.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported C$0.82 EPS for the quarter. The firm had revenue of C$426.40 million during the quarter. Peyto Exploration & Development had a return on equity of 16.78% and a net margin of 40.47%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PEY shares. National Bank Financial increased their price target on shares of Peyto Exploration & Development from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Scotiabank upgraded Peyto Exploration & Development to a "hold" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$26.64.

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.

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