National Bankshares Increases Peyto Exploration & Development (TSE:PEY) Price Target to C$18.50

Peyto Exploration & Development (TSE:PEY) had its price objective lifted by National Bankshares from C$18.00 to C$18.50 in a research note issued to investors on Friday morning, BayStreet.CA reports.

PEY has been the topic of a number of other reports. CIBC reduced their target price on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. TD Securities upgraded Peyto Exploration & Development to a strong-buy rating in a report on Friday, June 21st. Finally, Scotiabank upgraded Peyto Exploration & Development to a strong-buy rating in a report on Friday, June 14th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of C$17.28.

Peyto Exploration & Development Price Performance

Shares of PEY stock opened at C$15.03 on Friday. The stock has a 50 day moving average price of C$14.48 and a 200 day moving average price of C$14.82. Peyto Exploration & Development has a 52-week low of C$11.09 and a 52-week high of C$15.99. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. The firm has a market capitalization of C$2.94 billion, a P/E ratio of 9.70, a P/E/G ratio of -0.46 and a beta of 1.76.

Peyto Exploration & Development (TSE:PEY) last released its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing the consensus estimate of C$0.27 by C($0.01). The business had revenue of C$256.55 million for the quarter, compared to the consensus estimate of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. As a group, sell-side analysts predict that Peyto Exploration & Development will post 2.5599315 earnings per share for the current year.

Peyto Exploration & Development Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.11 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.78%. Peyto Exploration & Development’s dividend payout ratio is presently 85.16%.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 16,600 shares of Peyto Exploration & Development stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$15.10, for a total value of C$250,660.00. In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 16,600 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$15.10, for a total value of C$250,660.00. Also, Director Stephen Jonathan Chetner sold 2,700 shares of Peyto Exploration & Development stock in a transaction on Thursday, July 18th. The stock was sold at an average price of C$14.29, for a total transaction of C$38,583.00. In the last three months, insiders purchased 41,775 shares of company stock valued at $608,667 and sold 267,641 shares valued at $3,893,311. Corporate insiders own 2.37% of the company’s stock.

Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.