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

Peyto Exploration & Development Corp. (TSE:PEY) hit a new 52-week high during 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 changing hands. The stock had previously closed at C$16.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PEY shares. Atlantic Securities boosted their price target on 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. National Bankshares boosted their target price on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. Finally, TD Securities reduced their target price on Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Peyto Exploration & Development currently has an average rating of “Buy” and an average target price of C$17.60.

Peyto Exploration & Development Stock Up 4.5 %

The business has a 50 day moving average of C$15.26 and a 200 day moving average of C$14.96. The company has a debt-to-equity ratio of 50.02, a current ratio of 1.15 and a quick ratio of 0.32. The firm has a market capitalization of C$3.31 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors 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 dividend on an annualized basis and a dividend yield of 7.80%. Peyto Exploration & Development’s payout ratio is 85.16%.

Insider Activity at Peyto Exploration & Development

In other Peyto Exploration & Development news, Senior Officer Tavis Aaron Carlson sold 23,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$15.94, for a total value of C$366,620.00. Also, Director Jean-Paul Henri Lachance sold 23,500 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$14.00, for a total value of C$329,000.00. Over the last ninety days, insiders bought 35,675 shares of company stock worth $522,419 and sold 203,240 shares worth $3,008,866. 2.36% of the stock is currently owned by corporate 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.