Peyto Exploration & Development (TSE:PEY) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$14.94 and traded as high as C$15.64. Peyto Exploration & Development shares last traded at C$15.25, with a volume of 1,157,493 shares traded.

Wall Street Analysts Forecast Growth

PEY has been the subject of several recent research reports. National Bankshares boosted their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. Atlantic Securities increased their price target on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, TD Securities decreased their price objective on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Peyto Exploration & Development currently has a consensus rating of “Buy” and a consensus price target of C$17.60.

Peyto Exploration & Development Price Performance

The company has a market cap of C$2.98 billion, a PE ratio of 9.84, a PEG ratio of -0.46 and a beta of 1.75. The firm’s 50-day moving average is C$15.07 and its 200-day moving average is C$14.94. The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02.

Peyto Exploration & Development (TSE:PEY) last posted its earnings results 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 firm had revenue of C$256.55 million for the quarter, compared to analysts’ expectations of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%.

Peyto Exploration & Development Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.32 annualized dividend and a yield of 8.66%. Peyto Exploration & Development’s payout ratio is 85.16%.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were acquired at an average price of C$15.31 per share, with a total value of C$61,244.00. In related news, Senior Officer Todd Burdick sold 57,810 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$14.41, for a total transaction of C$832,845.55. Also, Director Stephen Jonathan Chetner acquired 4,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was acquired at an average cost of C$15.31 per share, for a total transaction of C$61,244.00. In the last three months, insiders have acquired 35,675 shares of company stock valued at $522,419 and have sold 219,240 shares valued at $3,198,063. Insiders own 2.36% 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.