Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Peyto Exploration & Development Corp. shares have crossed above their 200-day moving average, trading as high as C$19.31 and closing at C$19.05.
• Analysts have varied ratings on the stock, with target price increases from TD Securities and others, ranging from C$20.00 to C$24.00, while Canaccord Genuity downgraded it to a "hold."
• The stock's current market cap is C$3.78 billion with a price-to-earnings ratio of 12.84 and an average rating of "Moderate Buy."

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.95 and traded as high as C$19.31. Peyto Exploration & Development shares last traded at C$19.05, with a volume of 793,920 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. National Bankshares upped their price objective on shares of Peyto Exploration & Development from C$18.00 to C$24.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group cut shares of Peyto Exploration & Development from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. BMO Capital Markets upped their price objective on shares of Peyto Exploration & Development from C$19.50 to C$23.00 in a research note on Thursday, May 22nd. ATB Capital upped their price objective on shares of Peyto Exploration & Development from C$19.00 to C$21.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, CIBC upped their price objective on shares of Peyto Exploration & Development from C$17.50 to C$19.25 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$20.92.

Peyto Exploration & Development Stock Performance

The company's 50-day moving average price is C$19.42 and its 200 day moving average price is C$18.01. The company has a debt-to-equity ratio of 49.96, a quick ratio of 0.32 and a current ratio of 1.28. The stock has a market capitalization of C$3.80 billion, a PE ratio of 12.89, a PEG ratio of -0.46 and a beta of 1.75.

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.