Peyto Exploration & Development (TSE:PEY) Reaches New 52-Week High – Time to Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$16.73 and last traded at C$16.70, with a volume of 260136 shares changing hands. The stock had previously closed at C$16.20.

Wall Street Analyst Weigh In

Several analysts have commented on PEY shares. TD Securities lowered their price objective on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. Atlantic Securities raised their target price on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, National Bankshares boosted their target price on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$17.60.

Peyto Exploration & Development Trading Up 0.5 %

The company has a debt-to-equity ratio of 50.02, a current ratio of 1.15 and a quick ratio of 0.32. The stock has a market cap of C$3.36 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The stock’s 50-day moving average is C$15.38 and its two-hundred day moving average is C$14.99.

Peyto Exploration & Development Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.32 annualized dividend and a dividend yield of 7.69%. Peyto Exploration & Development’s dividend payout ratio (DPR) is 85.16%.

Insider Buying and Selling

In other Peyto Exploration & Development news, Senior Officer Tavis Aaron Carlson sold 23,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$15.94, for a total value of C$366,620.00. Also, Senior Officer Lee Russell Curran sold 31,000 shares of Peyto Exploration & Development stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$17.04, for a total value of C$528,314.40. Over the last three months, insiders have sold 234,240 shares of company stock worth $3,537,180. Corporate insiders own 2.36% 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.