Peyto Exploration & Development Corp. to Issue Monthly Dividend of $0.11 (TSE:PEY)

Peyto Exploration & Development Corp. (TSE:PEY) announced a monthly dividend on Friday, June 14th, Zacks reports. Shareholders of record on Sunday, June 30th will be given a dividend of 0.11 per share on Monday, July 15th. This represents a $1.32 dividend on an annualized basis and a yield of 8.97%. The ex-dividend date is Friday, June 28th.

Peyto Exploration & Development Price Performance

Shares of Peyto Exploration & Development stock traded down C$0.04 on Wednesday, hitting C$14.71. The company’s stock had a trading volume of 384,315 shares, compared to its average volume of 857,726. The company has a market capitalization of C$2.86 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of -0.46 and a beta of 1.85. The company has a quick ratio of 0.32, a current ratio of 1.55 and a debt-to-equity ratio of 50.61. The firm has a fifty day moving average price of C$15.19 and a 200-day moving average price of C$14.14. Peyto Exploration & Development has a 52-week low of C$10.65 and a 52-week high of C$15.99.

Wall Street Analyst Weigh In

PEY has been the topic of several analyst reports. TD Securities raised Peyto Exploration & Development to a “strong-buy” rating in a research report on Friday, June 21st. BMO Capital Markets raised their price target on Peyto Exploration & Development from C$14.00 to C$16.50 and gave the company a “market perform” rating in a report on Monday, March 11th. Stifel Nicolaus raised their price target on Peyto Exploration & Development from C$16.25 to C$18.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Desjardins raised their price target on Peyto Exploration & Development from C$13.50 to C$14.50 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, CIBC lifted their target price on Peyto Exploration & Development from C$16.00 to C$17.50 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$16.59.

Insider Transactions at Peyto Exploration & Development

In other news, Director Stephen Jonathan Chetner sold 2,700 shares of Peyto Exploration & Development stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of C$14.55, for a total transaction of C$39,285.00. In related news, Senior Officer Derick Nathan Czember purchased 3,470 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of C$14.41 per share, with a total value of C$50,002.70. Also, Director Stephen Jonathan Chetner sold 2,700 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of C$14.55, for a total value of C$39,285.00. In the last quarter, insiders have bought 26,470 shares of company stock valued at $404,303 and have sold 168,119 shares valued at $2,584,563. 2.37% of the stock is owned by insiders.

Peyto Exploration & Development Company Profile

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.