Brokerages Set Peyto Exploration & Development Corp. (TSE:PEY) Price Target at C$17.29

Shares of Peyto Exploration & Development Corp. (TSE:PEY – Get Rating) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$17.29.

PEY has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on shares of Peyto Exploration & Development from C$17.00 to C$15.50 in a research report on Tuesday, May 16th. TD Securities reduced their price target on shares of Peyto Exploration & Development from C$18.00 to C$17.50 and set a “buy” rating for the company in a research report on Tuesday, February 21st. Finally, Raymond James reduced their price target on shares of Peyto Exploration & Development from C$17.00 to C$15.00 in a research report on Tuesday, April 11th.

Peyto Exploration & Development Price Performance

PEY stock opened at C$11.35 on Friday. The stock has a market capitalization of C$1.98 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of -0.46 and a beta of 2.01. The company’s 50-day moving average is C$12.13 and its 200-day moving average is C$12.77. The company has a debt-to-equity ratio of 36.40, a current ratio of 0.96 and a quick ratio of 0.32. Peyto Exploration & Development has a 1 year low of C$9.71 and a 1 year high of C$17.13.

Peyto Exploration & Development (TSE:PEY – Get Rating) last announced its quarterly earnings results on Wednesday, March 8th. The company reported C$0.64 earnings per share for the quarter, missing the consensus estimate of C$0.89 by C($0.25). The business had revenue of C$383.14 million during the quarter. Peyto Exploration & Development had a net margin of 25.74% and a return on equity of 19.44%. Equities research analysts expect that Peyto Exploration & Development will post 1.8375 EPS for the current fiscal year.

Peyto Exploration & Development Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 11.63%. The ex-dividend date is Tuesday, May 30th. Peyto Exploration & Development’s dividend payout ratio (DPR) is presently 60.55%.

Insider Activity

In related news, Senior Officer Jean-Paul Henri Lachance bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were bought at an average price of C$11.90 per share, for a total transaction of C$119,000.00. Corporate insiders own 3.13% of the company’s stock.

Peyto Exploration & Development Company Profile

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Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin of Alberta. As of December 31, 2021, it had a total proved plus probable reserves of 904 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.