Brokerages Set Peyto Exploration & Development Corp. (TSE:PEY) Price Target at C$17.60

Shares of Peyto Exploration & Development Corp. (TSE:PEY) have earned an average recommendation of “Buy” from the ten research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$17.60.

A number of analysts recently weighed in on the stock. TD Securities cut their target price on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. National Bankshares upped their price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. Atlantic Securities upped their price target on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, CIBC lowered their price target on Peyto Exploration & Development from C$17.50 to C$17.00 in a report on Monday, July 15th.

Insider Activity

In other news, Senior Officer Todd Burdick sold 57,810 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$14.41, for a total value of C$832,845.55. In related news, Senior Officer Todd Burdick sold 57,810 shares of the 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. Also, 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. Over the last ninety days, insiders sold 219,240 shares of company stock valued at $3,198,063. 2.36% of the stock is currently owned by company insiders.

Peyto Exploration & Development Stock Up 1.0 %

PEY stock opened at C$15.56 on Friday. The company’s 50 day moving average price is C$14.93 and its 200 day moving average price is C$14.94. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. Peyto Exploration & Development has a fifty-two week low of C$11.09 and a fifty-two week high of C$16.32. The firm has a market capitalization of C$3.04 billion, a price-to-earnings ratio of 10.04, a PEG ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development (TSE:PEY) last released its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.27 by C($0.01). Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. The firm had revenue of C$256.55 million for the quarter, compared to analysts’ expectations of C$257.10 million.

Peyto Exploration & Development Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 8.48%. The ex-dividend date of this dividend is Thursday, October 31st. Peyto Exploration & Development’s payout ratio is currently 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.