Peyto Exploration & Development (TSE:PEY) Shares Cross Above Fifty Day Moving Average - Here's What Happened

Key Points

• Peyto shares rose 2.0% and crossed above their 50-day moving average of C$24.52, trading as high as C$25.34 before last changing hands at C$24.60.
• Analyst sentiment is moderately positive: National Bank Financial raised its target to C$30 and reiterated “outperform,” while the consensus rating is “Moderate Buy” with an average target of C$27.19.
• The company announced a monthly dividend of C$0.13 per share, equivalent to C$1.56 annually and a 6.3% yield. Its latest reported quarter included C$0.50 in EPS and C$400.75 million in revenue.

Peyto Exploration & Development Corp. (TSE:PEY - Get Free Report) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 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 traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. National Bank Financial raised their target price on shares of Peyto Exploration & Development from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a research report on Tuesday. Ventum Financial set a C$31.00 price target on shares of Peyto Exploration & Development and gave the company a "buy" rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Peyto Exploration & Development currently has an average rating of "Moderate Buy" and an average target price of C$27.19.

Peyto Exploration & Development Stock Up 2.0%

The company has a market capitalization of C$5.06 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of -0.46 and a beta of -0.10. The company has a 50-day moving average of C$24.52 and a two-hundred day moving average of C$25.28. The company has a quick ratio of 0.32, a current ratio of 1.63 and a debt-to-equity ratio of 34.98.

Peyto Exploration & Development (TSE:PEY - Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported C$0.50 earnings per share (EPS) for the quarter. The business had revenue of C$400.75 million during the quarter. Peyto Exploration & Development had a return on equity of 16.96% and a net margin of 39.78%.

Peyto Exploration & Development Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 15th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.3%. Peyto Exploration & Development's dividend payout ratio is currently 56.07%.

Insider Transactions at Peyto Exploration & Development

In related news, insider Derick Nathan Czember sold 25,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$25.45, for a total value of C$636,250.00. Following the completion of the transaction, the insider directly owned 114,505 shares in the company, valued at C$2,914,152.25. This trade represents a 17.92% decrease in their position. Also, insider Lee Russell Curran sold 28,000 shares of Peyto Exploration & Development stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$25.45, for a total transaction of C$712,600.00. Following the transaction, the insider directly owned 436,270 shares of the company's stock, valued at approximately C$11,103,071.50. This trade represents a 6.03% decrease in their ownership of the stock. Over the last ninety days, insiders sold 90,229 shares of company stock worth $2,275,786. 2.36% of the stock is owned by 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.

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