Peyto Exploration & Development (TSE:PEY) Reaches New 1-Year High - Here's What Happened

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as C$16.06 and last traded at C$16.04, with a volume of 235185 shares changing hands. The stock had previously closed at C$15.71.

Wall Street Analyst Weigh In

PEY has been the topic of several research reports. CIBC lowered their target price on Peyto Exploration & Development from C$17.50 to C$17.00 in a report on Monday, July 15th. National Bankshares upped their target price on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. Scotiabank raised Peyto Exploration & Development to a "strong-buy" rating in a research note on Friday, June 14th. Finally, TD Securities decreased their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Peyto Exploration & Development currently has a consensus rating of "Buy" and a consensus price target of C$17.50.

Peyto Exploration & Development Trading Up 2.6 %

The business has a fifty day moving average price of C$14.53 and a 200 day moving average price of C$14.83. The company has a market capitalization of C$3.15 billion, a PE ratio of 10.39, a P/E/G ratio of -0.46 and a beta of 1.76. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last announced its 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). The company had revenue of C$256.55 million for the quarter, compared to analysts' expectations of C$257.10 million. Peyto Exploration & Development had a net margin of 32.88% and a return on equity of 11.86%. Analysts expect that Peyto Exploration & Development Corp. will post 2.5599315 EPS for the current fiscal year.

Peyto Exploration & Development Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Friday, September 27th. Peyto Exploration & Development's dividend payout ratio (DPR) is currently 85.16%.

Insider Activity

In related news, Director Jean-Paul Henri Lachance sold 16,600 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$15.10, for a total transaction of C$250,660.00. In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner sold 2,700 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of C$14.29, for a total value of C$38,583.00. Also, Director Jean-Paul Henri Lachance sold 16,600 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$15.10, for a total value of C$250,660.00. In the last three months, insiders acquired 41,775 shares of company stock worth $608,667 and sold 267,641 shares worth $3,893,311. Company insiders own 2.37% 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.