Peyto Exploration & Development (TSE:PEY) Reaches New 12-Month High - Should You Buy?

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$19.81 and last traded at C$19.79, with a volume of 420493 shares trading hands. The stock had previously closed at C$19.53.

Analyst Ratings Changes

Several equities analysts have weighed in on PEY shares. Royal Bank of Canada raised their target price on shares of Peyto Exploration & Development from C$18.00 to C$21.00 and gave the company a "sector perform" rating in a report on Thursday, May 22nd. National Bankshares raised their target price on shares of Peyto Exploration & Development from C$18.00 to C$24.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. CIBC lifted their price target on shares of Peyto Exploration & Development from C$17.50 to C$19.25 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Canaccord Genuity Group downgraded shares of Peyto Exploration & Development from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Raymond James cut shares of Peyto Exploration & Development from an "outperform" rating to a "market perform" rating and set a C$21.00 target price on the stock. in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$20.92.

Peyto Exploration & Development Trading Up 1.8%

The stock has a market capitalization of C$4.09 billion, a price-to-earnings ratio of 13.90, a PEG 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. The business's 50-day simple moving average is C$18.32 and its two-hundred day simple moving average is C$17.12.

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.