Peyto Exploration & Development (TSE:PEY) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.92 and traded as high as C$15.44. Peyto Exploration & Development shares last traded at C$15.21, with a volume of 952,847 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on the company. CIBC cut 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 Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. TD Securities cut their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. Finally, Atlantic Securities boosted their price target on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an "outperform" rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Peyto Exploration & Development has an average rating of "Buy" and a consensus target price of C$17.60.

Peyto Exploration & Development Stock Performance

The company has a market capitalization of C$2.98 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The business's fifty day moving average is C$14.78 and its two-hundred day moving average is C$14.92. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing analysts' consensus estimates of C$0.27 by C($0.01). Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. The firm had revenue of C$256.55 million during the quarter, compared to analysts' expectations of C$257.10 million.

Peyto Exploration & Development Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.32 dividend on an annualized basis and a yield of 8.67%. Peyto Exploration & Development's dividend payout ratio is presently 85.16%.

Insider Buying and Selling at Peyto Exploration & Development

In other Peyto Exploration & Development news, Senior Officer Derick Nathan Czember sold 21,000 shares of the business's stock in a transaction on Friday, July 19th. The shares were sold at an average price of C$14.22, for a total transaction of C$298,620.00. In other Peyto Exploration & Development news, Senior Officer Riley Millar Frame sold 29,500 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$14.56, for a total transaction of C$429,579.00. Also, Senior Officer Derick Nathan Czember sold 21,000 shares of the company's stock in a transaction on Friday, July 19th. The stock was sold at an average price of C$14.22, for a total value of C$298,620.00. In the last ninety days, insiders sold 240,240 shares of company stock worth $3,496,683. Insiders own 2.36% of the company's stock.

Peyto Exploration & Development Company Profile

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.