Peyto Exploration & Development (TSE:PEY) Reaches New 1-Year High – What’s Next?

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price hit a new 52-week high on Thursday . The company traded as high as C$17.27 and last traded at C$17.03, with a volume of 126107 shares traded. The stock had previously closed at C$17.14.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEY. Atlantic Securities upped their price target on 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. BMO Capital Markets raised their price target on shares of Peyto Exploration & Development from C$16.50 to C$17.50 in a research report on Friday, December 13th. National Bankshares upped their price objective on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. Finally, TD Securities cut their target price on Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$17.70.

Peyto Exploration & Development Stock Down 0.2 %

The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. The stock has a market cap of C$3.33 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The stock’s fifty day moving average price is C$16.08 and its 200 day moving average price is C$15.21.

Peyto Exploration & Development Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 7.76%. The ex-dividend date was Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio (DPR) is currently 85.16%.

Insider Activity at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 54,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of C$16.00, for a total value of C$864,000.00. Also, Director Stephen Jonathan Chetner acquired 4,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were bought at an average cost of C$15.31 per share, with a total value of C$61,244.00. In the last three months, insiders have bought 20,860 shares of company stock valued at $328,142 and have sold 208,361 shares valued at $3,420,011. 2.36% of the stock is currently owned by insiders.

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.