Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Peyto Exploration & Development's stock price recently surpassed its 200-day moving average, indicating potential bullish momentum, as it traded as high as C$19.57 and is currently at C$19.35.
• Several analysts have provided mixed ratings, with TD Securities increasing their price target to C$22.00, while other firms like Canaccord Genuity downgraded their rating, leading to a consensus rating of "Moderate Buy" with an average target price of C$20.92.
• The company has a market capitalization of C$3.84 billion, with key financial ratios indicating a PE ratio of 13.04 and a debt-to-equity ratio of 49.96.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$17.73 and traded as high as C$19.57. Peyto Exploration & Development shares last traded at C$19.35, with a volume of 489,141 shares.

Analysts Set New Price Targets

A number of research firms have commented on PEY. National Bankshares upped their price target 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. ATB Capital upped their target price on Peyto Exploration & Development from C$19.00 to C$21.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. TD Securities lifted their target price 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. Canaccord Genuity Group lowered Peyto Exploration & Development from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Desjardins upped their price target on Peyto Exploration & Development from C$18.00 to C$18.50 and gave the stock a "hold" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Peyto Exploration & Development currently has an average rating of "Moderate Buy" and an average price target of C$20.92.

Peyto Exploration & Development Stock Up 0.9%

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$3.93 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of -0.46 and a beta of 1.75. The business's 50-day moving average is C$19.37 and its two-hundred day moving average is C$17.76.

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.