Peyto Exploration & Development Corp. (TSE:PEY) Receives C$16.55 Consensus Target Price from Brokerages

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

Several equities research analysts have weighed in on the stock. Desjardins increased their price target 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. Scotiabank raised shares of Peyto Exploration & Development to a “strong-buy” rating in a research report on Friday, June 14th. CIBC dropped their price target on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. Canaccord Genuity Group increased their price target on shares of Peyto Exploration & Development from C$17.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. 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 Price Performance

PEY stock opened at C$13.99 on Thursday. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. Peyto Exploration & Development has a 52 week low of C$11.09 and a 52 week high of C$15.99. The firm’s fifty day moving average is C$14.47 and its 200 day moving average is C$14.79. The firm has a market cap of C$2.74 billion, a P/E ratio of 9.03, a P/E/G ratio of -0.46 and a beta of 1.76.

Peyto Exploration & Development (TSE:PEY) last released its earnings results on Tuesday, August 13th. The company reported C$0.26 EPS for the quarter, missing the consensus estimate of C$0.27 by C($0.01). Peyto Exploration & Development had a net margin of 32.88% and a return on equity of 11.86%. The business had revenue of C$256.55 million for the quarter, compared to the consensus estimate of C$257.10 million. Research analysts predict that Peyto Exploration & Development will post 1.7201889 earnings per share for the current year.

Peyto Exploration & Development Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 13th. Stockholders of record on Saturday, August 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.44%. Peyto Exploration & Development’s dividend payout ratio is presently 85.16%.

Insider Transactions at Peyto Exploration & Development

In other news, Senior Officer Derick Nathan Czember sold 27,064 shares of Peyto Exploration & Development stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of C$14.85, for a total value of C$401,900.40. In related news, Senior Officer Derick Nathan Czember sold 27,064 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of C$14.85, for a total value of C$401,900.40. Also, Senior Officer Riley Millar Frame acquired 31,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of C$14.55 per share, for a total transaction of C$451,050.00. Over the last three months, insiders purchased 56,570 shares of company stock worth $833,225 and sold 207,160 shares worth $3,044,424. Company insiders own 2.37% 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.