TD Securities Trims Peyto Exploration & Development (TSE:PEY) Target Price to C$18.00

Peyto Exploration & Development (TSE:PEY - Free Report) had its price target reduced by TD Securities from C$19.00 to C$18.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

A number of other equities research analysts also recently commented on PEY. Scotiabank upgraded shares of Peyto Exploration & Development to a strong-buy rating in a report on Friday, June 14th. CIBC lowered their target price on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research note on Monday, July 15th. Finally, National Bankshares increased their price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of C$17.50.

Peyto Exploration & Development Price Performance

Shares of PEY traded up C$0.29 during mid-day trading on Tuesday, reaching C$15.69. 2,544,318 shares of the company's stock were exchanged, compared to its average volume of 913,156. 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 has a 52-week low of C$11.09 and a 52-week high of C$15.99. The company has a market cap of C$3.07 billion, a price-to-earnings ratio of 10.12, a PEG ratio of -0.46 and a beta of 1.76. The company has a 50-day simple moving average of C$14.51 and a two-hundred day simple moving average of C$14.82.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last released its quarterly earnings results 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). The company had revenue of C$256.55 million during the quarter, compared to analyst estimates of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. On average, sell-side analysts predict that Peyto Exploration & Development will post 2.5599315 EPS for the current fiscal year.

Peyto Exploration & Development Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a yield of 8.41%. Peyto Exploration & Development's dividend payout ratio (DPR) is 85.16%.

Insiders Place Their Bets

In other Peyto Exploration & Development news, Senior Officer Todd Burdick sold 57,810 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$14.41, for a total value of C$832,845.55. In other news, Director Jean-Paul Henri Lachance purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, July 5th. The shares were purchased at an average price of C$14.60 per share, with a total value of C$146,000.00. Also, Senior Officer Todd Burdick sold 57,810 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$14.41, for a total transaction of C$832,845.55. Over the last ninety days, insiders acquired 41,775 shares of company stock worth $608,667 and sold 267,641 shares worth $3,893,311. 2.37% of the stock is owned by insiders.

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.