Peyto Exploration & Development (TSE:PEY) Shares Pass Above 200-Day Moving Average of $14.24

Peyto Exploration & Development Corp. (TSE:PEY)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.24 and traded as high as C$15.06. Peyto Exploration & Development shares last traded at C$14.82, with a volume of 402,714 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. CIBC increased their price target 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. TD Securities raised Peyto Exploration & Development to a “strong-buy” rating in a research note on Friday, June 21st. Desjardins increased their price target on Peyto Exploration & Development from C$13.50 to C$14.50 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Scotiabank upgraded Peyto Exploration & Development to a “strong-buy” rating in a report on Friday, June 14th. Finally, Canaccord Genuity Group upped their price objective on Peyto Exploration & Development from C$17.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$16.59.

Peyto Exploration & Development Stock Performance

The firm has a market capitalization of C$2.88 billion, a PE ratio of 9.15, a P/E/G ratio of -0.46 and a beta of 1.85. The company has a debt-to-equity ratio of 50.61, a current ratio of 1.55 and a quick ratio of 0.32. The firm has a fifty day moving average price of C$15.14 and a 200 day moving average price of C$14.24.

Peyto Exploration & Development Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 8.91%. The ex-dividend date of this dividend is Friday, June 28th. Peyto Exploration & Development’s dividend payout ratio is 81.48%.

Insider Activity

In other news, 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 transaction of C$472,719.00. In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance acquired 11,000 shares of Peyto Exploration & Development stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of C$15.42 per share, with a total value of C$169,620.00. Also, Senior Officer Riley Millar Frame sold 29,900 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$15.81, for a total value of C$472,719.00. Over the last three months, insiders purchased 26,470 shares of company stock valued at $404,303 and sold 168,119 shares valued at $2,584,563. 2.37% 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.