Peyto Exploration & Development (OTCMKTS:PEYUF) Stock Price Down 1.2% – Here’s What Happened

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) traded down 1.2% during mid-day trading on Tuesday . The company traded as low as $16.7076 and last traded at $16.7076. 127,442 shares changed hands during trading, an increase of 34% from the average session volume of 94,849 shares. The stock had previously closed at $16.9040.

Analysts Set New Price Targets

PEYUF has been the subject of several research analyst reports. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. TD Securities reaffirmed a “buy” rating on shares of Peyto Exploration & Development in a report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Peyto Exploration & Development Stock Down 1.2%

The business has a fifty day moving average of $15.65 and a 200 day moving average of $14.46.

Peyto Exploration & Development Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.0784 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 604.0%. Peyto Exploration & Development’s dividend payout ratio (DPR) is 74.96%.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. is a Calgary-based Canadian energy company engaged in the exploration, development and production of natural gas and natural gas liquids. The company focuses on exploiting liquids-rich natural gas opportunities in the Deep Basin and Brazeau areas of west central Alberta. Peyto’s integrated business model encompasses land acquisition, well planning, drilling, completion and production operations, supported by in-house technical, engineering and operations teams.

Since its incorporation in 1998, Peyto has concentrated its activities entirely within Alberta’s prolific Montney, Falher and Notikewin formations.