Peyto Exploration & Development Corp. (TSE:PEY) Receives C$17.60 Average Target Price from Brokerages

Peyto Exploration & Development Corp. (TSE:PEY) has received an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$17.60.

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

Insiders Place Their Bets

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 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. Also, Director Michael Macbean sold 30,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$14.86, for a total value of C$453,138.50. In the last 90 days, insiders acquired 35,675 shares of company stock worth $522,419 and sold 219,240 shares worth $3,198,063. Company insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Price Performance

Shares of TSE PEY opened at C$15.18 on Friday. The stock has a market cap of C$2.97 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. The stock has a fifty day moving average of C$14.97 and a 200-day moving average of C$14.94. Peyto Exploration & Development has a fifty-two week low of C$11.09 and a fifty-two week high of C$16.32.

Peyto Exploration & Development (TSE:PEY) last announced 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). The business had revenue of C$256.55 million during the quarter, compared to the consensus estimate of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%.

Peyto Exploration & Development Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 8.70%. The ex-dividend date is Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio (DPR) 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.