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

Shares of Peyto Exploration & Development Corp. (TSE:PEY) 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.