Peyto Exploration & Development (TSE:PEY) Stock Price Passes Above 200-Day Moving Average - What's Next?

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 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Securities boosted their price objective on Peyto Exploration & Development from C$20.00 to C$22.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. National Bankshares boosted their price objective on Peyto Exploration & Development from C$18.00 to C$24.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Raymond James Financial downgraded Peyto Exploration & Development from an "outperform" rating to a "market perform" rating and set a C$21.00 price objective for the company. in a research report on Thursday, May 22nd. ATB Capital boosted their target price on 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 boosted their target price on 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$20.92.

Peyto Exploration & Development Stock Performance

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. The business has a 50 day moving average price of C$19.42 and a 200 day moving average price of C$17.98. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32.

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.