Peyto Exploration & Development (TSE:PEY) Sets New 12-Month High – Should You Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$17.49 and last traded at C$17.36, with a volume of 732943 shares. The stock had previously closed at C$17.27.

Analysts Set New Price Targets

Several research firms have commented on PEY. BMO Capital Markets raised their price objective on Peyto Exploration & Development from C$16.50 to C$17.50 in a research report on Friday, December 13th. Atlantic Securities increased their target price 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 price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. Finally, TD Securities lowered their price objective on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$17.70.

Peyto Exploration & Development Trading Up 0.5 %

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 business’s 50 day moving average price is C$16.16 and its 200-day moving average price is C$15.23. The firm has a market cap of C$3.39 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 7.60%. The ex-dividend date was Thursday, October 31st. Peyto Exploration & Development’s payout ratio is currently 85.16%.

Insider Transactions at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner purchased 4,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was acquired at an average cost of C$15.31 per share, with a total value of C$61,244.00. Also, Senior Officer Tavis Aaron Carlson sold 21,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$15.57, for a total transaction of C$326,900.70. In the last quarter, insiders bought 20,860 shares of company stock worth $328,142 and sold 233,862 shares worth $3,864,926. Insiders own 2.36% of the company’s stock.

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.