Peyto Exploration & Development (TSE:PEY) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Peyto's stock moved above its 200‑day moving average (C$23.67), trading as high as C$24.48 and last at C$24.31 on volume of 485,795 shares, with the 50‑day MA at C$26.46 suggesting near‑term strength.
• Analysts have largely raised targets and ratings recently—Scotiabank, RBC and Desjardins lifted targets (Desjardins to C$31) and the consensus from MarketBeat is a “Moderate Buy” with an average price target of C$24.55.
• Insiders have been buying (notably a 3,000‑share purchase at C$28.49 and a 1,550‑share purchase at C$24.07) while the company reported C$0.61 EPS, C$355.02M revenue and a net margin of 38.72% for the most recent quarter.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$23.67 and traded as high as C$24.48. Peyto Exploration & Development shares last traded at C$24.31, with a volume of 485,795 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank increased their price objective on shares of Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a report on Wednesday, January 21st. Royal Bank Of Canada lifted 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 report on Friday, February 20th. Canadian Imperial Bank of Commerce raised shares of Peyto Exploration & Development from a "hold" rating to an "outperform" rating and boosted their price objective for the company from C$21.00 to C$25.00 in a research note on Tuesday, January 13th. Desjardins increased their target price on Peyto Exploration & Development from C$27.00 to C$31.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Finally, TD Securities lowered Peyto Exploration & Development from a "buy" rating to a "hold" rating and set a C$25.00 price target for the company. in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Peyto Exploration & Development has an average rating of "Moderate Buy" and an average price target of C$24.55.

Peyto Exploration & Development Price Performance

The company has a debt-to-equity ratio of 41.44, a current ratio of 0.98 and a quick ratio of 0.32. The business's 50-day moving average price is C$26.46 and its two-hundred day moving average price is C$23.67. The firm has a market cap of C$4.98 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of -0.46 and a beta of -0.18.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The company reported C$0.61 earnings per share (EPS) for the quarter. The firm had revenue of C$355.02 million for the quarter. Peyto Exploration & Development had a net margin of 38.72% and a return on equity of 15.30%.

Insider Buying and Selling

In related news, Director Stephen Jonathan Chetner bought 3,000 shares of the firm's stock in a transaction on Friday, March 20th. The stock was bought at an average cost of C$28.49 per share, for a total transaction of C$85,470.00. Following the completion of the purchase, the director directly owned 143,748 shares in the company, valued at approximately C$4,095,380.52. The trade was a 2.13% increase in their position. Also, insider Riley Millar Frame bought 1,550 shares of the stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of C$24.07 per share, with a total value of C$37,308.50. Following the completion of the acquisition, the insider directly owned 138,452 shares of the company's stock, valued at approximately C$3,332,539.64. The trade was a 1.13% increase in their position. Insiders have acquired a total of 9,550 shares of company stock worth $241,429 over the last quarter. 2.36% of the stock is owned by company 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.

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