Peyto Exploration & Development (TSE:PEY) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PEY shares. TD Securities decreased their target price on Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. CIBC reduced their price objective on Peyto Exploration & Development from C$17.50 to C$17.00 in a research report on Monday, July 15th. Atlantic Securities raised their price objective on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, National Bankshares raised their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Peyto Exploration & Development currently has a consensus rating of “Buy” and a consensus price target of C$17.60.

Peyto Exploration & Development Trading Up 0.1 %

The firm has a 50 day simple moving average of C$14.81 and a 200 day simple moving average of 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. The firm has a market capitalization of C$2.98 billion, a PE ratio of 9.83, a P/E/G ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development (TSE:PEY) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share (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 announced a monthly dividend, which will be paid on Friday, November 15th. Investors 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 annualized dividend and a yield of 8.67%. 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, 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 transaction of C$832,845.55. In other news, Director Jean-Paul Henri Lachance sold 16,600 shares of Peyto Exploration & Development stock in a transaction dated 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, Senior Officer Todd Burdick sold 57,810 shares of Peyto Exploration & Development 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. Insiders have sold a total of 219,240 shares of company stock valued at $3,198,063 over the last ninety days. 2.36% of the stock is currently owned by company insiders.

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.