Peyto Exploration & Development (TSE:PEY) Share Price Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• Peyto Exploration & Development shares broke above their 200-day moving average, reaching C$25.04 and last trading at C$25.01, compared with the C$24.95 average.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of C$26.64. National Bank Financial raised its target to C$30.00, while Scotiabank upgraded the stock to “Hold.”
• The company reported quarterly earnings of C$0.50 per share on C$340.45 million in revenue, with a 39.78% net margin; meanwhile, insiders sold 122,729 shares worth about C$3.06 million over the past 90 days.

Shares of Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$24.95 and traded as high as C$25.04. Peyto Exploration & Development shares last traded at C$25.01, with a volume of 987,119 shares trading hands.

Analyst Ratings Changes

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

Peyto Exploration & Development Price Performance

The firm's fifty day moving average price is C$24.49 and its 200 day moving average price is C$24.95. The firm has a market capitalization of C$5.14 billion, a PE ratio of 10.46, a P/E/G ratio of -0.46 and a beta of -0.23. The company has a current ratio of 1.63, a quick ratio of 0.32 and a debt-to-equity ratio of 34.98.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported C$0.50 earnings per share for the quarter. Peyto Exploration & Development had a net margin of 39.78% and a return on equity of 16.96%. The firm had revenue of C$340.45 million for the quarter.

Insider Buying and Selling

In other Peyto Exploration & Development news, insider Riley Millar Frame sold 27,000 shares of Peyto Exploration & Development stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$24.83, for a total transaction of C$670,410.00. Following the completion of the transaction, the insider owned 145,510 shares in the company, valued at approximately C$3,613,013.30. This trade represents a 15.65% decrease in their position. Also, Director Stephen Jonathan Chetner sold 2,229 shares of Peyto Exploration & Development stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of C$25.18, for a total value of C$56,126.22. Following the transaction, the director owned 97,805 shares of the company's stock, valued at C$2,462,729.90. The trade was a 2.23% decrease in their position. Insiders sold 122,729 shares of company stock valued at $3,056,436 in the last 90 days. 2.36% of the stock is currently owned by 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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