Peyto Exploration & Development (PEY) Trading Down 3.6%

Shares of Peyto Exploration & Development Corp (TSE:PEY) dropped 3.6% on Wednesday . The company traded as low as C$11.20 and last traded at C$11.22. Approximately 601,461 shares were traded during trading, a decline of 56% from the average daily volume of 1,352,738 shares. The stock had previously closed at C$11.64.

PEY has been the subject of a number of analyst reports. Barclays lowered their target price on Peyto Exploration & Development from C$26.00 to C$19.00 in a report on Monday, October 30th. Scotiabank lowered Peyto Exploration & Development from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$22.50 to C$17.50 in a report on Monday, January 15th. Royal Bank of Canada lowered their target price on Peyto Exploration & Development from C$23.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, January 12th. TD Securities upped their target price on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Finally, National Bank Financial reduced their price target on Peyto Exploration & Development from C$29.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$16.32.

The stock has a market capitalization of $1,840.00, a PE ratio of 11.24 and a beta of 0.15.

Peyto Exploration & Development (TSE:PEY) last issued its quarterly earnings results on Wednesday, November 8th. The company reported C$0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.20 by C$0.07. Peyto Exploration & Development had a return on equity of 10.84% and a net margin of 30.65%.

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date is Tuesday, January 30th. Peyto Exploration & Development’s payout ratio is presently 133.33%.

In other news, Director Stephen Jonathan Chetner bought 6,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of C$16.65 per share, with a total value of C$108,225.00. Also, insider Scott Robinson sold 30,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of C$14.33, for a total value of C$429,900.00. Over the last ninety days, insiders have sold 95,000 shares of company stock worth $1,240,300.

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About Peyto Exploration & Development

Peyto Exploration & Development Corp is a Canada-based energy company. The Company is engaged in acquisition, exploration, development and production of oil and natural gas in Western Canada. Its portfolio of assets includes exploration, exploitation and development opportunities located primarily in the Deep Basin of Alberta.

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