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

Peyto Exploration & Development Corp. (TSE:PEY) has been assigned an average recommendation of “Buy” from the eleven brokerages that are 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 assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$16.55.

PEY has been the subject of several research reports. Canaccord Genuity Group upped their price target on shares of Peyto Exploration & Development from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Desjardins increased their target price 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 decreased their target price on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 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

Shares of PEY opened at C$14.31 on Thursday. The company has a 50 day moving average price of C$14.45 and a 200-day moving average price of C$14.79. Peyto Exploration & Development has a fifty-two week low of C$11.09 and a fifty-two week high of C$15.99. The stock has a market capitalization of C$2.80 billion, a PE ratio of 9.23, a PEG ratio of -0.46 and a beta of 1.76. 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 (TSE:PEY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing the consensus estimate of C$0.27 by C($0.01). Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. The business had revenue of C$256.55 million during the quarter, compared to analysts’ expectations of C$257.10 million. Equities analysts predict that Peyto Exploration & Development will post 1.7201889 earnings per share for the current fiscal year.

Peyto Exploration & Development Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Saturday, August 31st will be issued 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 9.22%. Peyto Exploration & Development’s dividend payout ratio is currently 85.16%.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember sold 35,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of C$14.75, for a total value of C$516,250.00. In other news, Senior Officer Todd Burdick sold 21,693 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$14.73, for a total value of C$319,537.89. Also, Senior Officer Derick Nathan Czember sold 35,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of C$14.75, for a total transaction of C$516,250.00. Over the last quarter, insiders purchased 44,570 shares of company stock valued at $648,545 and sold 197,357 shares valued at $2,894,830. 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.