Peyto Exploration & Development Corp. (TSE:PEY) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) have earned an average recommendation of "Buy" from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$17.28.

Several research firms have weighed in on PEY. CIBC lowered their price objective on Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. National Bankshares lifted their price objective on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday. Scotiabank upgraded shares of Peyto Exploration & Development to a "strong-buy" rating in a research report on Friday, June 14th. Finally, TD Securities raised shares of Peyto Exploration & Development to a "strong-buy" rating in a report on Friday, June 21st.

Peyto Exploration & Development Stock Performance

Shares of TSE PEY traded up C$0.35 during mid-day trading on Monday, reaching C$15.38. 1,592,225 shares of the company were exchanged, compared to its average volume of 901,888. Peyto Exploration & Development has a twelve month low of C$11.09 and a twelve month high of C$15.99. The stock has a market capitalization of C$3.01 billion, a P/E ratio of 9.70, a P/E/G ratio of -0.46 and a beta of 1.76. The company's 50-day simple moving average is C$14.48 and its 200-day simple moving average is C$14.82. The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last posted 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 firm had revenue of C$256.55 million during the quarter, compared to analyst estimates of C$257.10 million. Peyto Exploration & Development had a net margin of 32.88% and a return on equity of 11.86%. As a group, research analysts predict that Peyto Exploration & Development will post 2.5599315 earnings per share for the current year.

Peyto Exploration & Development Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.11 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a yield of 8.58%. Peyto Exploration & Development's payout ratio is 85.16%.

Insiders Place Their Bets

In related news, Director Jean-Paul Henri Lachance sold 23,500 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$14.00, for a total value of C$329,000.00. In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember sold 21,000 shares of the company's stock in a transaction dated Friday, July 19th. The stock was sold at an average price of C$14.22, for a total value of C$298,620.00. Also, Director Jean-Paul Henri Lachance sold 23,500 shares of Peyto Exploration & Development stock in a transaction dated Monday, September 9th. The shares were sold at an average price of C$14.00, for a total value of C$329,000.00. In the last three months, insiders have purchased 41,775 shares of company stock valued at $608,667 and have sold 267,641 shares valued at $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.