Peyto Exploration & Development (TSE:PEY) Reaches New 12-Month High – Still a Buy?

Peyto Exploration & Development Corp. (TSE:PEY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$17.49 and last traded at C$17.36, with a volume of 732943 shares traded. The stock had previously closed at C$17.27.

Wall Street Analysts Forecast Growth

PEY has been the topic of a number of recent research reports. TD Securities reduced their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. Atlantic Securities lifted their price target on Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research note on Monday, October 7th. National Bankshares increased their price objective on Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday, September 27th. Finally, BMO Capital Markets raised their target price on shares of Peyto Exploration & Development from C$16.50 to C$17.50 in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$17.70.

Peyto Exploration & Development Price Performance

The company has a market cap of C$3.38 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of -0.46 and a beta of 1.75. The business has a 50 day moving average of C$16.23 and a 200 day moving average of C$15.26. The company has a debt-to-equity ratio of 50.02, a current ratio of 1.15 and a quick ratio of 0.32.

Peyto Exploration & Development Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date of this dividend was Thursday, October 31st. Peyto Exploration & Development’s payout ratio is 85.16%.

Insider Buying and Selling

In other news, Senior Officer Lee Russell Curran sold 28,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of C$17.31, for a total value of C$484,806.00. Also, Senior Officer Tavis Aaron Carlson sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of C$17.35, for a total transaction of C$433,750.00. Over the last three months, insiders purchased 20,860 shares of company stock valued at $328,142 and sold 258,862 shares valued at $4,298,676. 2.36% of the stock is owned by 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.