Shares of Peyto Exploration & Development Corp (TSE:PEY) have been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$15.02.
A number of brokerages have issued reports on PEY. BMO Capital Markets downgraded shares of Peyto Exploration & Development from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$15.00 to C$12.00 in a report on Monday. TD Securities dropped their price objective on shares of Peyto Exploration & Development from C$18.00 to C$15.50 and set a “buy” rating for the company in a research note on Friday, March 2nd. Royal Bank of Canada dropped their price objective on shares of Peyto Exploration & Development from C$20.00 to C$17.00 and set an “outperform” rating for the company in a research note on Thursday, March 1st. Raymond James Financial dropped their price objective on shares of Peyto Exploration & Development from C$15.75 to C$15.50 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, CIBC dropped their price objective on shares of Peyto Exploration & Development from C$14.00 to C$12.50 in a research note on Tuesday, January 23rd.
In related news, insider Scott Robinson sold 20,000 shares of Peyto Exploration & Development stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of C$12.52, for a total transaction of C$250,400.00. Also, Director Brian Davis purchased 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average cost of C$14.42 per share, with a total value of C$25,956.00. Insiders sold a total of 95,000 shares of company stock valued at $1,240,300 over the last three months.
The firm also recently disclosed a monthly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were paid a $0.06 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.21%. Peyto Exploration & Development’s payout ratio is currently 123.36%.
TRADEMARK VIOLATION WARNING: This news story was first posted by Week Herald and is the property of of Week Herald. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://weekherald.com/2018/03/14/brokerages-set-peyto-exploration-development-corp-pey-target-price-at-15-32.html.
Peyto Exploration & Development Company Profile
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.
Receive News & Ratings for Peyto Exploration & Development Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peyto Exploration & Development and related companies with MarketBeat.com's FREE daily email newsletter.