Peyto Exploration & Development (TSE:PEY) Posts Earnings Results

Peyto Exploration & Development (TSE:PEY) posted its quarterly earnings data on Tuesday. The company reported C$0.50 earnings per share (EPS) for the quarter, FiscalAI reports. Peyto Exploration & Development had a net margin of 40.47% and a return on equity of 16.78%. The company had revenue of C$340.45 million for the quarter.

Peyto Exploration & Development Stock Performance

TSE PEY opened at C$25.28 on Wednesday. The company has a market cap of C$5.18 billion, a P/E ratio of 10.94, a P/E/G ratio of -0.46 and a beta of -0.51. The company has a debt-to-equity ratio of 36.62, a quick ratio of 0.32 and a current ratio of 1.37. The business’s 50 day moving average price is C$24.81 and its 200-day moving average price is C$25.57. Peyto Exploration & Development has a fifty-two week low of C$17.92 and a fifty-two week high of C$29.22.

Insider Buying and Selling

In other news, insider Lee Russell Curran sold 28,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of C$24.75, for a total transaction of C$693,000.00. Following the transaction, the insider owned 432,664 shares of the company’s stock, valued at approximately C$10,708,434. This represents a 6.08% decrease in their ownership of the stock. Also, insider Michael Richard Collens sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of C$24.25, for a total value of C$315,250.00. Following the sale, the insider directly owned 27,386 shares of the company’s stock, valued at C$664,110.50. This represents a 32.19% decrease in their ownership of the stock. Insiders sold 413,042 shares of company stock valued at $10,392,741 over the last 90 days. 2.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PEY has been the subject of several research analyst reports. National Bank Financial raised their price target on Peyto Exploration & Development from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Scotiabank upgraded Peyto Exploration & Development to a “hold” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$26.64.

About Peyto Exploration & Development

Peyto Exploration & Development Corp (Peyto Exploration & Development) is an oil and gas company that involves in the exploration and development of natural gas. The company acquires, explores, develops and produces crude oil and unconventional natural gas reserves.