Peyto Exploration & Development Corp. (PEY) to Issue Monthly Dividend of $0.11 on November 15th

Peyto Exploration & Development Corp. (TSE:PEY) announced a monthly dividend on Tuesday, October 15th, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.11 per share on Friday, November 15th. This represents a $1.32 annualized dividend and a dividend yield of 8.60%. The ex-dividend date of this dividend is Thursday, October 31st.

Peyto Exploration & Development Stock Performance

TSE PEY opened at C$15.35 on Tuesday. The company has a debt-to-equity ratio of 50.02, a current ratio of 1.15 and a quick ratio of 0.32. The company has a market cap of C$3.00 billion, a P/E ratio of 9.90, a P/E/G ratio of -0.46 and a beta of 1.75. The stock has a 50-day moving average of C$14.94 and a two-hundred day moving average of C$14.94. Peyto Exploration & Development has a 1-year low of C$11.09 and a 1-year high of C$16.32.

Peyto Exploration & Development (TSE:PEY) last announced its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing the consensus estimate of C$0.27 by C($0.01). Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%. The business had revenue of C$256.55 million for the quarter, compared to analysts’ expectations of C$257.10 million.

Wall Street Analyst Weigh In

Several research firms recently commented on PEY. CIBC lowered their target price on Peyto Exploration & Development from C$17.50 to C$17.00 in a research note on Monday, July 15th. Atlantic Securities upped their target price on shares of 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. TD Securities reduced their target price on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. Finally, National Bankshares boosted their price target on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$17.60.

Insider Transactions at Peyto Exploration & Development

In related news, Director Stephen Jonathan Chetner sold 3,831 shares of Peyto Exploration & Development stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$14.80, for a total transaction of C$56,698.80. In other Peyto Exploration & Development news, Director Jean-Paul Henri Lachance sold 16,600 shares of the business’s stock in a transaction that occurred on 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, Director Stephen Jonathan Chetner sold 3,831 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of C$14.80, for a total value of C$56,698.80. In the last quarter, insiders purchased 35,675 shares of company stock worth $522,419 and sold 219,240 shares worth $3,198,063. Insiders own 2.36% of the company’s stock.

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.