Peyto Exploration & Development (TSE:PEY) Hits New 1-Year High – Here’s What Happened

Shares of Peyto Exploration & Development Corp. (TSE:PEY) reached a new 52-week high on Wednesday . The stock traded as high as C$17.49 and last traded at C$17.36, with a volume of 732943 shares traded. The stock had previously closed at C$17.27.

Analyst Ratings Changes

Several brokerages have recently issued reports on PEY. BMO Capital Markets raised their target price on Peyto Exploration & Development from C$16.50 to C$17.50 in a research report on Friday, December 13th. TD Securities lowered 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. Atlantic Securities increased their target price 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, National Bankshares lifted their price target on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$17.70.

Peyto Exploration & Development Price Performance

The business has a fifty day moving average of C$16.23 and a 200-day moving average of C$15.26. 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 firm has a market cap of C$3.38 billion, a PE ratio of 11.14, a PEG ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.32 annualized dividend and a yield of 7.64%. Peyto Exploration & Development’s dividend payout ratio is currently 85.16%.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Senior Officer Tavis Aaron Carlson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of C$17.35, for a total value of C$433,750.00. Also, Director Stephen Jonathan Chetner purchased 4,000 shares of the company’s stock in a transaction dated 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 the last three months, insiders have bought 20,860 shares of company stock worth $328,142 and have sold 258,862 shares worth $4,298,676. 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.