Peyto Exploration & Development Corp. (TSE:PEY) Given Average Rating of “Buy” by Brokerages

Shares of Peyto Exploration & Development Corp. (TSE:PEY) have received an average recommendation of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$16.55.

A number of equities analysts recently commented on PEY shares. Stifel Nicolaus lifted their price target on Peyto Exploration & Development from C$16.25 to C$18.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Scotiabank upgraded shares of Peyto Exploration & Development to a “strong-buy” rating in a report on Friday, June 14th. CIBC lowered their price objective on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. Desjardins boosted their price objective on shares of Peyto Exploration & Development from C$13.50 to C$14.50 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, TD Securities raised shares of Peyto Exploration & Development to a “strong-buy” rating in a research report on Friday, June 21st.

Peyto Exploration & Development Stock Performance

Shares of PEY opened at C$14.86 on Friday. Peyto Exploration & Development has a 12-month low of C$11.09 and a 12-month high of C$15.99. The company has a current ratio of 1.55, a quick ratio of 0.32 and a debt-to-equity ratio of 50.61. The company has a 50-day moving average of C$14.59 and a two-hundred day moving average of C$14.61. The stock has a market cap of C$2.89 billion, a P/E ratio of 9.17, a PEG ratio of -0.46 and a beta of 1.77.

Peyto Exploration & Development (TSE:PEY) last issued its earnings results on Wednesday, May 15th. The company reported C$0.51 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.12). Peyto Exploration & Development had a net margin of 34.53% and a return on equity of 12.13%. The firm had revenue of C$332.54 million during the quarter, compared to analyst estimates of C$358.90 million. As a group, research analysts predict that Peyto Exploration & Development will post 1.6968215 EPS for the current fiscal year.

Peyto Exploration & Development Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.88%. Peyto Exploration & Development’s dividend payout ratio (DPR) is currently 81.48%.

Insider Buying and Selling at Peyto Exploration & Development

In other Peyto Exploration & Development news, Senior Officer Riley Millar Frame sold 29,900 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$15.81, for a total transaction of C$472,719.00. In related news, Senior Officer Derick Nathan Czember sold 21,000 shares of the business’s stock in a transaction dated 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 29,900 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$15.81, for a total value of C$472,719.00. Over the last three months, insiders bought 36,570 shares of company stock worth $551,795 and sold 249,519 shares worth $3,772,841. Corporate insiders own 2.37% of the company’s stock.

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.