Peyto Exploration & Development (TSE:PEY) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Peyto Exploration & Development Corp. (TSE:PEY)’s share price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$24.52 and traded as high as C$25.34. Peyto Exploration & Development shares last traded at C$24.60, with a volume of 1,314,226 shares.

Wall Street Analyst Weigh In

PEY has been the subject of several analyst reports. National Bank Financial increased their price target on shares of Peyto Exploration & Development from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday. Ventum Financial set a C$31.00 price objective on Peyto Exploration & Development and gave the company a “buy” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$27.19.

Peyto Exploration & Development Trading Up 0.2%

The company has a quick ratio of 0.32, a current ratio of 1.28 and a debt-to-equity ratio of 32.38. The business has a fifty day simple moving average of C$24.51 and a 200 day simple moving average of C$25.29. The company has a market cap of C$5.21 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of -0.46 and a beta of -0.10.

Peyto Exploration & Development (TSE:PEY) last announced its quarterly earnings results on Monday, November 9th. The company reported C$0.50 earnings per share (EPS) for the quarter. Peyto Exploration & Development had a net margin of 42.77% and a return on equity of 18.66%. The business had revenue of C$400.75 million during the quarter.

Peyto Exploration & Development Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 6.2%. The ex-dividend date is Monday, November 30th. Peyto Exploration & Development’s dividend payout ratio is presently 51.12%.

Insider Buying and Selling

In related news, insider Riley Millar Frame sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$24.83, for a total value of C$670,410.00. Following the sale, the insider owned 145,510 shares in the company, valued at C$3,613,013.30. This represents a 15.65% decrease in their position. Also, insider Lee Russell Curran sold 28,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$25.45, for a total value of C$712,600.00. Following the completion of the sale, the insider owned 436,270 shares in the company, valued at approximately C$11,103,071.50. This represents a 6.03% decrease in their position. Insiders sold a total of 90,229 shares of company stock valued at $2,275,786 in the last 90 days. 2.36% of the stock is owned by corporate insiders.

Peyto Exploration & Development Company Profile

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.