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

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

Analyst Ratings Changes

Several research firms recently commented on PEY. Atlantic Securities increased their price objective on 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. TD Securities dropped their price target on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. National Bankshares lifted their price target on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday, September 27th. Finally, BMO Capital Markets increased their price objective on shares of Peyto Exploration & Development from C$16.50 to C$17.50 in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$17.70.

Peyto Exploration & Development Stock Performance

The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. The stock has a market cap of C$3.33 billion, a P/E ratio of 10.98, a P/E/G ratio of -0.46 and a beta of 1.75. The business’s 50-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 business also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 7.76%. The ex-dividend date of this dividend was Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio is presently 85.16%.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner purchased 4,000 shares of the stock in a transaction that occurred on 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. Also, Senior Officer Tavis Aaron Carlson sold 21,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$15.57, for a total transaction of C$326,900.70. Over the last quarter, insiders have purchased 20,860 shares of company stock valued at $328,142 and have sold 208,361 shares valued at $3,420,011. Corporate 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.