Peyto Exploration & Development (TSE:PEY) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.92 and traded as high as C$15.44. Peyto Exploration & Development shares last traded at C$15.21, with a volume of 952,847 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on PEY shares. CIBC reduced their price objective on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research note on Monday, July 15th. National Bankshares upped their price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. TD Securities reduced their price target on Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. Finally, Atlantic Securities upped their price target on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$17.60.

Peyto Exploration & Development Stock Performance

The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. The firm has a 50-day moving average of C$14.81 and a 200-day moving average of C$14.92. The stock has a market capitalization of C$2.98 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of -0.46 and a beta of 1.75.

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). Peyto Exploration & Development had a net margin of 32.88% and a return on equity of 11.86%. The business had revenue of C$256.55 million during the quarter, compared to analysts’ expectations of C$257.10 million.

Peyto Exploration & Development Announces Dividend

The firm also recently declared 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 8.67%. The ex-dividend date is Thursday, October 31st. Peyto Exploration & Development’s payout ratio is 85.16%.

Insider Transactions at Peyto Exploration & Development

In other news, Director Jean-Paul Henri Lachance sold 16,600 shares of the stock in a transaction dated 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, Senior Officer Derick Nathan Czember sold 35,000 shares of Peyto Exploration & Development stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$14.75, for a total value of C$516,250.00. 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. Insiders have sold a total of 219,240 shares of company stock valued at $3,198,063 in the last ninety days. 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.