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

Key Points

• Peyto Exploration & Development's stock price recently crossed above its 200-day moving average of C$18.29, reaching a high of C$18.53 during trading.
• Analysts have issued various ratings, with National Bankshares raising their price target to C$24.00 and five analysts rating the stock as "Buy."
• The company has a market capitalization of C$3.68 billion and reported a price-to-earnings ratio of 11.11, reflecting its financial position in the market.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$18.29 and traded as high as C$18.53. Peyto Exploration & Development shares last traded at C$18.33, with a volume of 595,581 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEY. Royal Bank Of Canada lifted their target price on shares of Peyto Exploration & Development from C$18.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 22nd. National Bankshares boosted 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 report on Thursday, May 22nd. BMO Capital Markets boosted their price objective on shares of Peyto Exploration & Development from C$19.50 to C$23.00 in a research 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 research report on Wednesday, May 14th. Finally, Raymond James Financial downgraded shares of Peyto Exploration & Development from an "outperform" rating to a "market perform" rating and set a C$21.00 price objective on the stock. in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Peyto Exploration & Development presently has a consensus rating of "Moderate Buy" and an average price target of C$20.92.

Peyto Exploration & Development Price Performance

The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96. The company has a market capitalization of C$3.66 billion, a P/E ratio of 11.05, a P/E/G ratio of -0.46 and a beta of 0.20. The company's 50-day simple moving average is C$18.96 and its 200 day simple moving average is C$18.34.

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.