Insider Selling: Peyto Exploration & Development (TSE:PEY) Insider Sells 23,000 Shares of Stock

Peyto Exploration & Development Corp. (TSE:PEY) insider Riley Millar Frame sold 23,000 shares of Peyto Exploration & Development stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of C$21.48, for a total value of C$494,040.00. Following the completion of the transaction, the insider directly owned 128,527 shares of the company’s stock, valued at C$2,760,759.96. This represents a 15.18% decrease in their ownership of the stock.

Peyto Exploration & Development Price Performance

TSE PEY traded up C$0.06 on Friday, hitting C$22.98. 739,440 shares of the company were exchanged, compared to its average volume of 879,734. Peyto Exploration & Development Corp. has a 1-year low of C$14.57 and a 1-year high of C$23.74. The firm has a 50 day moving average of C$21.01 and a two-hundred day moving average of C$19.74. The company has a current ratio of 1.28, a quick ratio of 0.32 and a debt-to-equity ratio of 49.96. The company has a market cap of C$4.64 billion, a P/E ratio of 12.49, a P/E/G ratio of -0.46 and a beta of -0.28.

Wall Street Analysts Forecast Growth

PEY has been the topic of several research analyst reports. CIBC increased their price target on shares of Peyto Exploration & Development from C$19.25 to C$21.00 in a research note on Wednesday, October 15th. TD Securities increased their price objective on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on Peyto Exploration & Development from C$20.00 to C$21.50 in a research note on Friday, November 14th. Finally, Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating and upped their price target for the company from C$23.50 to C$24.50 in a research note on Monday, November 24th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Peyto Exploration & Development currently has an average rating of “Moderate Buy” and a consensus price target of C$22.44.

Peyto Exploration & Development Company Profile

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.