Peyto Exploration & Development (TSE:PEY) Stock Price Down 2.2% - Here's What Happened

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s share price fell 2.2% during trading on Wednesday . The company traded as low as C$14.60 and last traded at C$14.97. 824,422 shares changed hands during trading, a decline of 11% from the average session volume of 927,946 shares. The stock had previously closed at C$15.30.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEY shares. BMO Capital Markets upgraded shares of Peyto Exploration & Development from a "market perform" rating to an "outperform" rating and lifted their price target for the company from C$18.50 to C$19.50 in a report on Monday, March 24th. CIBC lifted their target price on shares of Peyto Exploration & Development from C$17.00 to C$17.50 in a research note on Friday, January 17th. Desjardins increased their price target on shares of Peyto Exploration & Development from C$16.50 to C$17.00 and gave the stock a "hold" rating in a research note on Thursday, March 13th. Raymond James set a C$22.00 price objective on Peyto Exploration & Development and gave the company an "outperform" rating in a research report on Tuesday, April 8th. Finally, TD Securities upped their target price on Peyto Exploration & Development from C$19.00 to C$20.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$19.10.

Peyto Exploration & Development Stock Down 0.1 %

The stock's 50 day simple moving average is C$16.51 and its two-hundred day simple moving average is C$16.20. The firm has a market cap of C$3.32 billion, a P/E ratio of 11.29, a P/E/G ratio of -0.46 and a beta of 1.75. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

Insider Activity at Peyto Exploration & Development

In related news, Senior Officer Derick Nathan Czember sold 62,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of C$16.18, for a total transaction of C$1,002,936.80. Also, Senior Officer Todd Burdick bought 2,150 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was purchased at an average cost of C$16.35 per share, with a total value of C$35,153.58. In the last 90 days, insiders purchased 12,150 shares of company stock valued at $196,654 and sold 126,509 shares valued at $2,072,231. 2.36% of the stock is owned by corporate insiders.

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.