Peyto Exploration & Development (TSE:PEY) Shares Pass Above 200-Day Moving Average - Here's What Happened

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.93 and traded as high as C$15.32. Peyto Exploration & Development shares last traded at C$15.19, with a volume of 594,504 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEY. CIBC cut their price target on Peyto Exploration & Development from C$17.50 to C$17.00 in a research note on Monday, July 15th. TD Securities cut their target price on Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. Atlantic Securities raised their price target on 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. Finally, National Bankshares raised their price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$17.60.

Peyto Exploration & Development Stock Performance

The stock has a market cap of C$2.96 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02. The business has a 50 day moving average price of C$15.00 and a two-hundred day moving average price of C$14.93.

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 analysts' consensus estimates of C$0.27 by C($0.01). The firm had revenue of C$256.55 million during the quarter, compared to analysts' expectations of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%.

Peyto Exploration & Development Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given 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 8.72%. Peyto Exploration & Development's dividend payout ratio (DPR) is presently 85.16%.

Insider Buying and Selling at Peyto Exploration & Development

In other Peyto Exploration & Development news, Director Stephen Jonathan Chetner sold 3,831 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$14.80, for a total transaction of C$56,698.80. In other news, Director Jean-Paul Henri Lachance sold 16,600 shares of the stock in a transaction that occurred 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. Also, Director Stephen Jonathan Chetner sold 3,831 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$14.80, for a total value of C$56,698.80. Over the last ninety days, insiders have purchased 35,675 shares of company stock worth $522,419 and have sold 219,240 shares worth $3,198,063. Company 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.