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

Key Points

• Peyto Exploration & Development Corp. (TSE:PEY) has surpassed its 200-day moving average, reaching a trading high of C$19.36 with a last traded price of C$19.20.
• Recent analyst reports have adjusted price targets for PEY, with estimates ranging from C$18.50 to C$24.00, resulting in a consensus target price of C$20.92 and a current rating of "Moderate Buy."
• The company maintains a market capitalization of C$3.81 billion and has a P/E ratio of 12.94, indicating its valuation in the oil and gas sector.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.85 and traded as high as C$19.36. Peyto Exploration & Development shares last traded at C$19.20, with a volume of 586,817 shares changing hands.

Analyst Ratings Changes

PEY has been the subject of several recent research reports. Desjardins boosted their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 and gave the company a "hold" rating in a report on Thursday, May 22nd. BMO Capital Markets boosted their price objective on Peyto Exploration & Development from C$19.50 to C$23.00 in a 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 report on Thursday, May 22nd. CIBC upped their price target on 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. Finally, TD Securities upped their price target on Peyto Exploration & Development from C$20.00 to C$22.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$20.92.

Peyto Exploration & Development Trading Down 1.2%

The firm has a 50-day moving average of C$19.41 and a 200-day moving average of C$17.85. 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 firm has a market capitalization of C$3.81 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

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.

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