Peyto Exploration & Development (TSE:PEY) Hits New 52-Week High – Still a Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$19.79 and last traded at C$19.63, with a volume of 1383204 shares changing hands. The stock had previously closed at C$19.21.

Analysts Set New Price Targets

PEY has been the topic of several recent research reports. TD Securities lifted their target price on shares of Peyto Exploration & Development from C$19.00 to C$20.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Raymond James lowered Peyto Exploration & Development from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. CIBC increased their target price on Peyto Exploration & Development from C$17.00 to C$17.50 in a report on Friday, January 17th. Desjardins boosted their price target on Peyto Exploration & Development from C$16.50 to C$17.00 and gave the company a “hold” rating in a research note on Thursday, March 13th. Finally, BMO Capital Markets upgraded Peyto Exploration & Development from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$18.50 to C$19.50 in a research note on Monday, March 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Peyto Exploration & Development presently has a consensus rating of “Moderate Buy” and a consensus price target of C$19.00.

Peyto Exploration & Development Stock Performance

The stock has a 50 day moving average price of C$17.48 and a two-hundred day moving average price of C$16.61. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.28 and a quick ratio of 0.32. The company has a market capitalization of C$3.76 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

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.