Peyto Exploration & Development (TSE:PEY) Reaches New 1-Year High – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$16.73 and last traded at C$16.70, with a volume of 260136 shares trading hands. The stock had previously closed at C$16.20.

Analyst Ratings Changes

PEY has been the subject of several analyst reports. National Bankshares boosted their price target on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. TD Securities cut their price objective on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. Finally, Atlantic Securities lifted their price objective on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Peyto Exploration & Development presently has a consensus rating of “Buy” and a consensus price target of C$17.60.

Peyto Exploration & Development Trading Up 4.5 %

The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02. The firm’s 50-day simple moving average is C$15.26 and its 200 day simple moving average is C$14.96. The stock has a market capitalization of C$3.31 billion, a P/E ratio of 10.45, a PEG ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 7.80%. The ex-dividend date was Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio (DPR) is presently 85.16%.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 23,500 shares of Peyto Exploration & Development stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$14.00, for a total transaction of C$329,000.00. Also, Senior Officer Derick Nathan Czember sold 35,000 shares of Peyto Exploration & Development stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$14.75, for a total value of C$516,250.00. Over the last three months, insiders have acquired 35,675 shares of company stock worth $522,419 and have sold 203,240 shares worth $3,008,866. 2.36% of the stock is owned by company insiders.

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.