Peyto Exploration & Development (TSE:PEY) Sets New 52-Week High – Should You Buy?

Peyto Exploration & Development Corp. (TSE:PEY) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$18.30 and last traded at C$18.23, with a volume of 496529 shares. The stock had previously closed at C$17.41.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets increased their target price on shares of Peyto Exploration & Development from C$17.50 to C$18.50 in a report on Tuesday, January 14th. Desjardins lifted their target price on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a “hold” rating in a research report on Thursday, March 13th. CIBC boosted their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. Finally, TD Securities upped their price objective on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$18.67.

Peyto Exploration & Development Price Performance

The stock has a market cap of C$3.57 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. The business’s 50-day simple moving average is C$16.18 and its two-hundred day simple moving average is C$15.86.

Insider Transactions at Peyto Exploration & Development

In other news, Director Jean-Paul Henri Lachance acquired 5,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of C$15.85 per share, with a total value of C$79,250.00. Also, Senior Officer Lee Russell Curran sold 25,797 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of C$16.09, for a total transaction of C$415,078.89. Over the last three months, insiders purchased 14,150 shares of company stock valued at $230,994 and sold 203,509 shares valued at $3,402,675. 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.