Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Peyto Exploration & Development’s share price moved above its 200-day moving average, trading as high as C$26.39 and last changing hands at C$26.13. This technical breakout may draw attention from traders watching the stock’s trend.
• Analyst sentiment is mixed but constructive, with National Bank Financial raising its price target to C$30 and Scotiabank upgrading the stock to hold. The consensus rating remains Moderate Buy, with an average target price of C$26.64.
• The company reported C$0.82 EPS and C$426.4 million in quarterly revenue in its latest results, while insiders have recently been active with both sales and purchases. Over the past 90 days, insiders sold a net amount of stock, though one insider also bought shares in July.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.32 and traded as high as C$26.39. Peyto Exploration & Development shares last traded at C$26.13, with a volume of 832,316 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. National Bank Financial increased their target price on shares of Peyto Exploration & Development from C$29.00 to C$30.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Scotiabank raised shares of Peyto Exploration & Development to a "hold" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Peyto Exploration & Development currently has a consensus rating of "Moderate Buy" and an average target price of C$26.64.

Peyto Exploration & Development Stock Performance

The company has a quick ratio of 0.32, a current ratio of 1.37 and a debt-to-equity ratio of 36.62. The company has a market capitalization of C$5.35 billion, a PE ratio of 11.31, a PEG ratio of -0.46 and a beta of -0.50. The business has a 50 day simple moving average of C$24.95 and a 200 day simple moving average of C$25.32.

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

Insider Activity

In related news, insider Michael Richard Collens sold 13,000 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$24.25, for a total value of C$315,250.00. Following the transaction, the insider directly owned 27,386 shares of the company's stock, valued at C$664,110.50. This represents a 32.19% decrease in their position. Also, insider Tavis Aaron Carlson bought 2,200 shares of the business's stock in a transaction that occurred on Tuesday, July 14th. The stock was purchased at an average cost of C$24.05 per share, for a total transaction of C$52,910.00. Following the completion of the transaction, the insider owned 64,447 shares in the company, valued at C$1,549,950.35. This trade represents a 3.53% increase in their ownership of the stock. Over the last ninety days, insiders sold 413,042 shares of company stock valued at $10,392,741. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.