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

Peyto Exploration & Development Corp. (TSE:PEY) has been given a consensus recommendation of “Buy” by the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$17.70.

Several equities analysts have recently weighed in on PEY shares. TD Securities dropped their price objective on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. BMO Capital Markets increased their target price on Peyto Exploration & Development from C$16.50 to C$17.50 in a report on Friday. National Bankshares upped their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. Finally, Atlantic Securities upped their target price on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Monday, October 7th.

Insider Buying and Selling at Peyto Exploration & Development

In related news, Director Stephen Jonathan Chetner sold 3,831 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$14.80, for a total value of C$56,698.80. Also, Senior Officer Todd Burdick sold 57,810 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$14.41, for a total transaction of C$832,845.55. Over the last three months, insiders have acquired 7,935 shares of company stock valued at $123,203 and have sold 257,805 shares valued at $4,072,420. Insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Stock Performance

Shares of TSE PEY opened at C$16.19 on Friday. Peyto Exploration & Development has a 12 month low of C$11.89 and a 12 month high of C$17.27. The stock has a 50 day moving average of C$15.82 and a 200-day moving average of C$15.10. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. The company has a market capitalization of C$3.17 billion, a P/E ratio of 10.45, a P/E/G ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.15%. The ex-dividend date was Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio is 85.16%.

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.