Peyto Exploration & Development (TSE:PEY) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.19 and traded as high as C$18.89. Peyto Exploration & Development shares last traded at C$18.84, with a volume of 759,635 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PEY shares. 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. ATB Capital boosted their price objective on shares of Peyto Exploration & Development from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. TD Securities boosted their price objective on shares of Peyto Exploration & Development from C$20.00 to C$22.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group lowered shares of Peyto Exploration & Development from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, CIBC boosted their price target on shares of Peyto Exploration & Development from C$17.50 to C$19.25 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$20.92.

Peyto Exploration & Development Stock Performance

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 stock has a market cap of C$3.74 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The firm’s 50 day moving average is C$19.16 and its 200 day moving average is C$18.19.

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.