Peyto Exploration & Development (TSE:PEY) Reaches New 52-Week High - Here's Why

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.49 and last traded at C$17.36, with a volume of 732943 shares trading hands. The stock had previously closed at C$17.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEY. Atlantic Securities boosted their price objective on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an "outperform" rating in a report on Monday, October 7th. BMO Capital Markets boosted their price target on Peyto Exploration & Development from C$16.50 to C$17.50 in a research note on Friday, December 13th. TD Securities reduced their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. Finally, National Bankshares lifted their target price on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of C$17.70.

Peyto Exploration & Development Price Performance

The company has a debt-to-equity ratio of 50.02, a current ratio of 1.15 and a quick ratio of 0.32. The stock has a 50 day simple moving average of C$16.19 and a two-hundred day simple moving average of C$15.25. The company has a market cap of C$3.37 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date of this dividend was Thursday, October 31st. Peyto Exploration & Development's dividend payout ratio is presently 85.16%.

Insider Buying and Selling at Peyto Exploration & Development

In other news, Senior Officer Lee Russell Curran sold 28,000 shares of Peyto Exploration & Development stock in a transaction on Monday, January 6th. The stock was sold at an average price of C$17.31, for a total value of C$484,806.00. Also, Senior Officer Tavis Aaron Carlson sold 25,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of C$17.35, for a total value of C$433,750.00. Over the last quarter, insiders have acquired 20,860 shares of company stock worth $328,142 and have sold 258,862 shares worth $4,298,676. Company insiders own 2.36% of the company's stock.

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.