National Bankshares Boosts Peyto Exploration & Development (TSE:PEY) Price Target to C$18.50

Peyto Exploration & Development (TSE:PEY) had its price objective lifted by National Bankshares from C$18.00 to C$18.50 in a report issued on Friday, BayStreet.CA reports.

PEY has been the subject of a number of other research reports. CIBC reduced their price target on Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. TD Securities raised Peyto Exploration & Development to a strong-buy rating in a report on Friday, June 21st. Finally, Scotiabank upgraded shares of Peyto Exploration & Development to a strong-buy rating in a research report on Friday, June 14th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of C$17.28.

Peyto Exploration & Development Stock Performance

Shares of PEY stock opened at C$15.03 on Friday. The stock’s fifty day simple moving average is C$14.48 and its 200-day simple moving average is C$14.82. The company has a market capitalization of C$2.94 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of -0.46 and a beta of 1.76. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. Peyto Exploration & Development has a 1-year low of C$11.09 and a 1-year high of C$15.99.

Peyto Exploration & Development (TSE:PEY) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C$0.26 EPS for the quarter, missing the consensus estimate of C$0.27 by C($0.01). The company had revenue of C$256.55 million for the quarter, compared to analyst estimates of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. On average, sell-side analysts predict that Peyto Exploration & Development will post 2.5599315 earnings per share for the current fiscal year.

Peyto Exploration & Development Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 8.78%. The ex-dividend date is Friday, September 27th. Peyto Exploration & Development’s dividend payout ratio is 85.16%.

Insider Activity

In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 16,600 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$15.10, for a total transaction of C$250,660.00. In related news, Director Stephen Jonathan Chetner sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of C$14.29, for a total value of C$38,583.00. Also, Director Jean-Paul Henri Lachance sold 16,600 shares of Peyto Exploration & Development stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$15.10, for a total value of C$250,660.00. Over the last quarter, insiders have bought 41,775 shares of company stock valued at $608,667 and have sold 267,641 shares valued at $3,893,311. 2.37% 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.