Peyto Exploration & Development (TSE:PEY) Sets New 1-Year High – Here’s Why

Shares of Peyto Exploration & Development Corp. (TSE:PEY) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$20.95 and last traded at C$20.90, with a volume of 53943 shares traded. The stock had previously closed at C$20.65.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEY. Raymond James lowered Peyto Exploration & Development from an “outperform” rating to a “market perform” rating and set a C$21.00 target price on the stock. in a research report on Thursday, May 22nd. CIBC upped their target price on shares of Peyto Exploration & Development from C$17.50 to C$19.25 and gave the company a “neutral” rating in a research note 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. Royal Bank of Canada raised their target price on Peyto Exploration & Development from C$18.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, May 22nd. Finally, TD Securities increased their price target on Peyto Exploration & Development from C$20.00 to C$22.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Peyto Exploration & Development currently has a consensus rating of “Moderate Buy” and a consensus price target of C$20.92.

Peyto Exploration & Development Stock Up 0.9%

The business’s 50-day moving average price is C$18.43 and its 200-day moving average price is C$17.15. The firm has a market capitalization of C$4.13 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 49.96.

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.