Peyto Exploration & Development (TSE:PEY) Price Target Lowered to C$24.00 at Scotiabank

Peyto Exploration & Development (TSE:PEY – Get Rating) had its price objective reduced by Scotiabank from C$26.00 to C$24.00 in a research note released on Tuesday, BayStreet.CA reports.

PEY has been the topic of a number of other research reports. BMO Capital Markets lowered their target price on Peyto Exploration & Development from C$16.00 to C$15.00 in a research note on Tuesday, December 13th. CIBC reduced their price target on Peyto Exploration & Development from C$18.00 to C$17.00 and set a neutral rating for the company in a research report on Wednesday, January 4th. Stifel Firstegy reaffirmed a buy rating on shares of Peyto Exploration & Development in a research report on Thursday, January 12th. National Bankshares reduced their price target on Peyto Exploration & Development from C$19.00 to C$17.00 in a research report on Friday, September 30th. Finally, Stifel Nicolaus set a C$18.00 price target on Peyto Exploration & Development and gave the stock a buy rating in a research report on Friday, January 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Peyto Exploration & Development presently has a consensus rating of Moderate Buy and a consensus target price of C$18.07.

Peyto Exploration & Development Stock Performance

Shares of PEY stock opened at C$13.57 on Tuesday. The stock’s fifty day simple moving average is C$13.82 and its 200-day simple moving average is C$12.85. The company has a current ratio of 0.36, a quick ratio of 0.32 and a debt-to-equity ratio of 68.28. Peyto Exploration & Development has a 1-year low of C$8.75 and a 1-year high of C$17.13. The company has a market capitalization of C$2.33 billion and a price-to-earnings ratio of 6.79.

Peyto Exploration & Development (TSE:PEY – Get Rating) last issued its earnings results on Wednesday, November 9th. The company reported C$0.48 EPS for the quarter. The firm had revenue of C$374.53 million during the quarter. On average, sell-side analysts predict that Peyto Exploration & Development will post 2.9600002 earnings per share for the current fiscal year.

Peyto Exploration & Development Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 13th. Shareholders of record on Saturday, December 31st were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.60 annualized dividend and a yield of 4.42%. Peyto Exploration & Development’s dividend payout ratio (DPR) is 27.50%.

Insider Activity

In related news, Director Don Gray acquired 260,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were bought at an average cost of C$14.60 per share, for a total transaction of C$3,796,000.00. Following the purchase, the director now owns 1,168,186 shares in the company, valued at approximately C$17,055,515.60. In related news, Director Don Gray acquired 260,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were bought at an average cost of C$14.60 per share, for a total transaction of C$3,796,000.00. Following the purchase, the director now owns 1,168,186 shares in the company, valued at approximately C$17,055,515.60. Also, Director Stephen Jonathan Chetner sold 1,902 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of C$13.80, for a total value of C$26,247.60. Following the completion of the sale, the director now owns 47,431 shares in the company, valued at C$654,547.80. In the last ninety days, insiders have purchased 341,600 shares of company stock worth $4,954,527 and have sold 131,661 shares worth $1,833,146.

About Peyto Exploration & Development

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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.