Peyto Exploration & Development (TSE:PEY) Shares Cross Above 200-Day Moving Average – Time to Sell?

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 traded.

Analyst Ratings Changes

Several analysts have recently weighed in on PEY shares. Desjardins lifted their target price on shares of Peyto Exploration & Development from C$27.00 to C$31.00 and gave the company a “buy” rating in a report on Thursday, March 12th. TD Securities cut shares of Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$25.00 price target for the company. in a report on Friday, February 20th. Scotiabank lifted their price objective on Peyto Exploration & Development from C$24.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective 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. Finally, Canadian Imperial Bank of Commerce upgraded Peyto Exploration & Development from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$21.00 to C$25.00 in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$24.55.

Peyto Exploration & Development Stock Performance

The stock’s 50 day moving average price is C$26.06 and its two-hundred day moving average price is C$22.62. The company has a current ratio of 0.98, a quick ratio of 0.32 and a debt-to-equity ratio of 41.44. The firm has a market capitalization of C$5.73 billion, a price-to-earnings ratio of 13.68, a PEG ratio of -0.46 and a beta of -0.20.

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.