Peyto Exploration & Development Corp (PEY) Given Consensus Recommendation of “Buy” by Brokerages

Peyto Exploration & Development Corp (TSE:PEY) has been given a consensus rating of “Buy” by the ten analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$16.32.

PEY has been the subject of a number of recent research reports. Barclays lowered their target price on Peyto Exploration & Development from C$19.00 to C$14.00 in a report on Monday, January 15th. Royal Bank of Canada lowered their target price on Peyto Exploration & Development from C$23.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, January 12th. National Bank Financial lowered their target price on Peyto Exploration & Development from C$22.00 to C$16.00 and set an “outperform” rating for the company in a report on Tuesday, January 9th. CIBC lowered their target price on Peyto Exploration & Development from C$18.00 to C$14.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Finally, Eight Capital lowered their target price on Peyto Exploration & Development from C$16.25 to C$15.15 in a report on Friday, January 12th.

Shares of Peyto Exploration & Development (TSE:PEY) traded down C$0.17 during mid-day trading on Wednesday, hitting C$10.27. The company had a trading volume of 191,763 shares, compared to its average volume of 1,290,000. Peyto Exploration & Development has a twelve month low of C$9.83 and a twelve month high of C$29.04. The company has a market cap of $1,690.00, a P/E ratio of 10.37 and a beta of -0.10.

The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.06 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 7.01%. Peyto Exploration & Development’s payout ratio is 133.33%.

In related news, Director Brian Davis purchased 1,800 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was bought at an average price of C$14.42 per share, with a total value of C$25,956.00. Also, Director Stephen Jonathan Chetner purchased 6,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of C$16.65 per share, with a total value of C$108,225.00. In the last three months, insiders sold 95,000 shares of company stock valued at $1,240,300.

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About Peyto Exploration & Development

Peyto Exploration & Development Corp is a Canada-based energy company. The Company is engaged in acquisition, exploration, development and production of oil and natural gas in Western Canada. Its portfolio of assets includes exploration, exploitation and development opportunities located primarily in the Deep Basin of Alberta.

Analyst Recommendations for Peyto Exploration & Development (TSE:PEY)

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