Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) Sees Significant Decrease in Short Interest

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 387,300 shares, a decrease of 52.3% from the September 15th total of 811,100 shares. Based on an average daily trading volume, of 182,600 shares, the days-to-cover ratio is currently 2.1 days.

PEYUF traded down $0.26 during midday trading on Thursday, reaching $7.57. 32,936 shares of the company’s stock were exchanged, compared to its average volume of 79,670. Peyto Exploration & Development has a one year low of $1.80 and a one year high of $8.49. The business has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $5.56.

The firm also recently declared a dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 29th will be paid a dividend of $0.0317 per share. This represents a yield of 0.42%. The ex-dividend date is Tuesday, September 28th.

Several equities analysts have commented on the stock. TD Securities raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating in a research report on Tuesday, June 29th. CIBC lowered their price target on Peyto Exploration & Development from C$8.25 to C$8.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 17th. Canaccord Genuity raised their price target on Peyto Exploration & Development from C$9.50 to C$10.50 and gave the company a “buy” rating in a research report on Wednesday, September 15th. Stifel Nicolaus lowered their price target on Peyto Exploration & Development from C$15.75 to C$14.75 and set a “buy” rating on the stock in a research report on Thursday, September 23rd. Finally, Industrial Alliance Securities downgraded Peyto Exploration & Development from a “buy” rating to a “hold” rating and set a C$11.50 price target on the stock. in a research report on Tuesday, September 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.80.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas. Its operations include deep basin, field activity, marketing, and reserves. The company was founded by Richard F. Braund and Donald T. Gray in 1998 and is headquartered in Calgary, Canada.

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