Peyto Exploration & Development (TSE:PEY) Upgraded to “Strong-Buy” by TD Securities

TD Securities upgraded shares of Peyto Exploration & Development (TSE:PEY) to a strong-buy rating in a research report released on Friday morning, Zacks.com reports.

A number of other research firms have also recently commented on PEY. Stifel Nicolaus lifted their price objective on shares of Peyto Exploration & Development from C$16.25 to C$18.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Scotiabank raised shares of Peyto Exploration & Development to a strong-buy rating in a research report on Friday, June 14th. Desjardins lifted their price objective on shares of Peyto Exploration & Development from C$13.50 to C$14.50 and gave the stock a buy rating in a research report on Thursday, May 16th. CIBC lifted their price objective on shares of Peyto Exploration & Development from C$16.00 to C$17.50 and gave the stock an outperform rating in a research report on Wednesday, May 15th. Finally, BMO Capital Markets boosted their target price on shares of Peyto Exploration & Development from C$14.00 to C$16.50 and gave the company a market perform rating in a research report on Monday, March 11th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Peyto Exploration & Development currently has an average rating of Buy and a consensus price target of C$16.59.

Peyto Exploration & Development Trading Down 1.0 %

PEY stock opened at C$14.26 on Friday. The company has a debt-to-equity ratio of 50.61, a current ratio of 1.55 and a quick ratio of 0.32. The company has a fifty day moving average price of C$15.20 and a two-hundred day moving average price of C$14.07. Peyto Exploration & Development has a one year low of C$10.38 and a one year high of C$15.99. The stock has a market cap of C$2.77 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of -0.46 and a beta of 1.85.

Peyto Exploration & Development Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date is Friday, June 28th. Peyto Exploration & Development’s dividend payout ratio (DPR) is presently 81.48%.

Insider Activity at Peyto Exploration & Development

In related news, Senior Officer Derick Nathan Czember purchased 3,470 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of C$14.41 per share, with a total value of C$50,002.70. In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember bought 3,470 shares of the stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of C$14.41 per share, with a total value of C$50,002.70. Also, Senior Officer Riley Millar Frame sold 29,900 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$15.81, for a total value of C$472,719.00. Over the last quarter, insiders purchased 26,470 shares of company stock valued at $404,303 and sold 146,426 shares valued at $2,265,026. 2.37% of the stock is 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.