Peyto Exploration & Development (TSE:PEY) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares of Peyto Exploration & Development climbed above its 200-day moving average (C$22.52), trading as high as C$27.89 and last at C$27.62 on volume of about 1.25 million shares.
• Analyst sentiment is mildly positive with a consensus rating of “Moderate Buy” and a consensus price target of C$24.55, following recent upgrades including Desjardins raising its target to C$31 and CIBC upgrading to "outperform".
• Key fundamentals: market capitalization of C$5.62 billion, a PE ratio of 13.41, debt-to-equity of 41.44, and liquidity ratios below 1 (current 0.98, quick 0.32).

Shares of Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.52 and traded as high as C$27.89. Peyto Exploration & Development shares last traded at C$27.62, with a volume of 1,254,890 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEY shares. Desjardins upped their target price on Peyto Exploration & Development from C$27.00 to C$31.00 and gave the stock a "buy" rating in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a "hold" rating to an "outperform" rating and lifted their price target for the company from C$21.00 to C$25.00 in a research report on Tuesday, January 13th. Royal Bank Of Canada boosted their price target on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company a "sector perform" rating in a report on Friday, February 20th. Scotiabank upped their price objective on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 21st. Finally, TD Securities lowered Peyto Exploration & Development from a "buy" rating to a "hold" rating and set a C$25.00 price objective on the stock. in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Peyto Exploration & Development has a consensus rating of "Moderate Buy" and a consensus price target of C$24.55.

Peyto Exploration & Development Stock Performance

The company has a debt-to-equity ratio of 41.44, a quick ratio of 0.32 and a current ratio of 0.98. The firm has a market capitalization of C$5.62 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of -0.46 and a beta of -0.20. The firm's 50 day moving average price is C$25.83 and its 200-day moving average price is C$22.52.

About Peyto Exploration & Development

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.