Peyto Exploration & Development (TSE:PEY) Hits New 12-Month High at $16.06

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price hit 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. The stock had previously closed at C$15.71.

Analysts Set New Price Targets

PEY has been the subject of several research analyst reports. Scotiabank upgraded Peyto Exploration & Development to a “strong-buy” rating in a research note on Friday, June 14th. TD Securities reduced their price target on Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday. CIBC reduced their price target on Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. Finally, National Bankshares lifted their price target on 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, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$17.50.

Peyto Exploration & Development Price Performance

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 50 day moving average price of C$14.53 and a 200-day moving average price of C$14.83. The stock has a market capitalization of C$3.15 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of -0.46 and a beta of 1.76.

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

Peyto Exploration & Development Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date is Friday, September 27th. Peyto Exploration & Development’s dividend payout ratio (DPR) is currently 85.16%.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember sold 21,000 shares of Peyto Exploration & Development stock in a transaction on Friday, July 19th. The stock was sold at an average price of C$14.22, for a total value of C$298,620.00. In related news, Senior Officer Derick Nathan Czember sold 21,000 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of C$14.22, for a total value of C$298,620.00. Also, Senior Officer Riley Millar Frame sold 29,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$14.56, for a total value of C$429,579.00. Over the last 90 days, insiders have purchased 41,775 shares of company stock valued at $608,667 and have sold 267,641 shares valued at $3,893,311. 2.37% of the stock is currently owned by corporate 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.