Peyto Exploration & Development Corp. (PEY) to Issue Monthly Dividend of $0.11 on July 15th

Peyto Exploration & Development Corp. (TSE:PEY) declared a monthly dividend on Friday, June 14th, Zacks reports. Investors of record on Sunday, June 30th will be given a dividend of 0.11 per share on Monday, July 15th. This represents a $1.32 annualized dividend and a yield of 8.97%. The ex-dividend date of this dividend is Friday, June 28th.

Peyto Exploration & Development Stock Down 0.3 %

PEY traded down C$0.04 during trading on Wednesday, reaching C$14.71. The company had a trading volume of 402,636 shares, compared to its average volume of 857,825. The company has a debt-to-equity ratio of 50.61, a current ratio of 1.55 and a quick ratio of 0.32. Peyto Exploration & Development has a 12 month low of C$10.65 and a 12 month high of C$15.99. The business’s fifty day moving average price is C$15.19 and its 200 day moving average price is C$14.14. The company has a market cap of C$2.86 billion, a P/E ratio of 9.07, a PEG ratio of -0.46 and a beta of 1.85.

Analyst Ratings Changes

PEY has been the topic of several research reports. TD Securities upgraded shares of Peyto Exploration & Development to a “strong-buy” rating in a research note on Friday, June 21st. Canaccord Genuity Group raised their price objective on shares of Peyto Exploration & Development from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Desjardins raised their price objective on Peyto Exploration & Development from C$13.50 to C$14.50 and gave the company a “buy” rating in a research note on Thursday, May 16th. CIBC lifted their target price on Peyto Exploration & Development from C$16.00 to C$17.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Finally, Scotiabank upgraded Peyto Exploration & Development to a “strong-buy” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Peyto Exploration & Development has a consensus rating of “Buy” and an average target price of C$16.59.

Insider Buying and Selling

In related news, Senior Officer Todd Burdick sold 21,693 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$14.73, for a total value of C$319,537.89. In other Peyto Exploration & Development news, Senior Officer Todd Burdick sold 21,693 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$14.73, for a total value of C$319,537.89. Also, Senior Officer Riley Millar Frame sold 29,900 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$15.81, for a total value of C$472,719.00. In the last quarter, insiders bought 26,470 shares of company stock worth $404,303 and sold 168,119 shares worth $2,584,563. 2.37% of the stock is currently owned by corporate 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.