Peyto Exploration & Development (TSE:PEY) Sets New 52-Week High – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$16.06 and last traded at C$16.04, with a volume of 235185 shares traded. The stock had previously closed at C$15.71.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEY. CIBC lowered their price objective on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a report on Monday, July 15th. Scotiabank upgraded Peyto Exploration & Development to a “strong-buy” rating in a research report on Friday, June 14th. National Bankshares increased their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. Finally, TD Securities dropped their target price on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$17.50.

Peyto Exploration & Development Price Performance

The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02. The stock has a market cap of C$3.13 billion, a P/E ratio of 10.34, a P/E/G ratio of -0.46 and a beta of 1.76. The firm has a 50 day moving average price of C$14.56 and a 200 day moving average price of C$14.85.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.27 by C($0.01). Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. The business had revenue of C$256.55 million during the quarter, compared to analysts’ expectations of C$257.10 million. On average, analysts forecast that Peyto Exploration & Development Corp. will post 2.5599315 EPS for the current fiscal year.

Peyto Exploration & Development Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 8.23%. The ex-dividend date of this dividend is Friday, September 27th. Peyto Exploration & Development’s payout ratio is 85.16%.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 16,600 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$15.10, for a total transaction of C$250,660.00. In other news, Senior Officer Derick Nathan Czember sold 21,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of C$14.22, for a total value of C$298,620.00. Also, Director Jean-Paul Henri Lachance sold 16,600 shares of the 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 transaction of C$250,660.00. In the last quarter, insiders bought 31,775 shares of company stock worth $462,667 and sold 267,641 shares worth $3,893,311. Company insiders own 2.37% of the company’s stock.

About Peyto Exploration & Development

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.