Peyto Exploration & Development (TSE:PEY) Hits New 1-Year High – Still a Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$26.88 and last traded at C$26.73, with a volume of 87895 shares traded. The stock had previously closed at C$26.21.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Peyto Exploration & Development from C$20.00 to C$21.50 in a report on Friday, November 14th. TD Securities lifted their target price on shares of Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Scotiabank increased their price target on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$21.00 to C$25.00 in a research note on Tuesday, January 13th. Finally, Desjardins upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating and increased their target price for the company from C$23.50 to C$24.50 in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.30.

Peyto Exploration & Development Stock Performance

The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The stock has a 50-day moving average price of C$23.50 and a 200-day moving average price of C$21.10. The firm has a market capitalization of C$5.39 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of -0.46 and a beta of -0.21.

Insider Transactions at Peyto Exploration & Development

In related news, insider Lee Russell Curran sold 28,000 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of C$22.27, for a total transaction of C$623,560.00. Following the sale, the insider owned 421,844 shares in the company, valued at C$9,394,465.88. This represents a 6.22% decrease in their ownership of the stock. Also, Director Jean-Paul Henri Lachance sold 74,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Thursday, November 27th. The shares were sold at an average price of C$22.00, for a total value of C$1,628,000.00. Following the completion of the transaction, the director owned 501,731 shares of the company’s stock, valued at approximately C$11,038,082. The trade was a 12.85% decrease in their ownership of the stock. Insiders sold 175,000 shares of company stock valued at $3,870,120 over the last 90 days. Corporate insiders own 2.36% of the company’s stock.

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.