Peyto Exploration & Development Corp. (TSE:PEY) Receives Average Recommendation of “Buy” from Analysts

Peyto Exploration & Development Corp. (TSE:PEY) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$16.55.

Several research analysts have issued reports on the company. Desjardins boosted their target price on 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 upgraded Peyto Exploration & Development to a “strong-buy” rating in a research report on Friday, June 14th. Stifel Nicolaus boosted their target price on Peyto Exploration & Development from C$16.25 to C$18.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group boosted their target price on 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, CIBC decreased their price target on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research note on Monday, July 15th.

Insider Buying and Selling

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance acquired 11,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of C$15.42 per share, with a total value of C$169,620.00. In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance acquired 11,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of C$15.42 per share, with a total value of C$169,620.00. Also, Senior Officer Riley Millar Frame sold 29,900 shares of the business’s 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. Over the last 90 days, insiders acquired 36,570 shares of company stock valued at $551,795 and sold 219,019 shares valued at $3,319,702. 2.37% of the stock is currently owned by insiders.

Peyto Exploration & Development Stock Performance

PEY opened at C$14.18 on Wednesday. The firm has a market cap of C$2.76 billion, a P/E ratio of 8.75, a P/E/G ratio of -0.46 and a beta of 1.85. 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 stock has a 50-day moving average of C$14.97 and a 200 day moving average of C$14.46.

Peyto Exploration & Development (TSE:PEY) last announced its earnings results on Wednesday, May 15th. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of C$332.54 million for the quarter, compared to analysts’ expectations of C$358.90 million. As a group, research analysts forecast that Peyto Exploration & Development will post 1.8527316 EPS for the current year.

Peyto Exploration & Development Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 9.31%. The ex-dividend date is Wednesday, July 31st. Peyto Exploration & Development’s dividend payout ratio is presently 81.48%.

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.