Peyto Exploration & Development (TSE:PEY) Sets New 52-Week High – Time to Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$17.27 and last traded at C$17.03, with a volume of 126107 shares. The stock had previously closed at C$17.14.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. TD Securities reduced their price objective on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. 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. Atlantic Securities raised their target price on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets upped their price target on Peyto Exploration & Development from C$16.50 to C$17.50 in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$17.70.

Peyto Exploration & Development Price Performance

The company has a 50-day moving average of C$16.02 and a 200-day moving average of C$15.18. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. The stock has a market cap of C$3.33 billion, a price-to-earnings ratio of 10.99, a PEG ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.11 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.32 annualized dividend and a yield of 7.75%. Peyto Exploration & Development’s dividend payout ratio is currently 85.16%.

Insider Activity

In other news, Senior Officer Tavis Aaron Carlson acquired 2,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of C$17.17 per share, with a total value of C$34,340.00. Also, Director Stephen Jonathan Chetner acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was acquired at an average price of C$15.31 per share, for a total transaction of C$61,244.00. Over the last quarter, insiders have bought 20,860 shares of company stock valued at $328,142 and have sold 184,361 shares valued at $3,008,123. Insiders own 2.36% 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.