Peyto Exploration & Development (TSE:PEY) Posts Earnings Results

Peyto Exploration & Development (TSE:PEY) released its quarterly earnings data on Tuesday. The company reported C$0.50 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$340.45 million for the quarter. Peyto Exploration & Development had a net margin of 40.47% and a return on equity of 16.78%.

Peyto Exploration & Development Stock Performance

TSE PEY traded up C$0.22 during trading on Tuesday, hitting C$25.28. 582,826 shares of the company’s stock traded hands, compared to its average volume of 911,948. The stock has a market capitalization of C$5.18 billion, a price-to-earnings ratio of 10.94, a PEG ratio of -0.46 and a beta of -0.51. Peyto Exploration & Development has a 12-month low of C$17.92 and a 12-month high of C$29.22. The company has a debt-to-equity ratio of 36.62, a quick ratio of 0.32 and a current ratio of 1.37. The business has a 50 day moving average of C$24.81 and a 200-day moving average of C$25.57.

Insider Buying and Selling

In related news, insider Lee Russell Curran sold 31,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$26.00, for a total transaction of C$819,000.00. Following the completion of the transaction, the insider directly owned 432,664 shares in the company, valued at C$11,249,264. The trade was a 6.79% decrease in their ownership of the stock. Also, insider Todd Burdick sold 27,633 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of C$25.82, for a total transaction of C$713,484.06. Following the completion of the transaction, the insider directly owned 230,500 shares of the company’s stock, valued at approximately C$5,951,510. This represents a 10.70% decrease in their position. Insiders sold 413,042 shares of company stock worth $10,392,741 in the last 90 days. 2.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Scotiabank raised Peyto Exploration & Development to a “hold” rating in a research note on Friday, June 26th. National Bank Financial lifted their target price on Peyto Exploration & Development from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$26.64.

About Peyto Exploration & Development

Peyto Exploration & Development Corp (Peyto Exploration & Development) is an oil and gas company that involves in the exploration and development of natural gas. The company acquires, explores, develops and produces crude oil and unconventional natural gas reserves.