Peyto Exploration & Development Corp (TSE:PEY) Price Target Cut to C$30.00 by Analysts at Royal Bank Of Canada

Peyto Exploration & Development Corp (TSE:PEY) had its price objective trimmed by Royal Bank Of Canada from C$34.00 to C$30.00 in a report released on Friday. The brokerage currently has an outperform rating on the stock.

PEY has been the subject of a number of other research reports. Scotiabank reaffirmed an outperform rating and issued a C$36.00 price objective on shares of Peyto Exploration & Development Corp in a report on Tuesday, July 4th. TD Securities cut their target price on shares of Peyto Exploration & Development Corp from C$37.00 to C$36.00 and set a buy rating for the company in a research note on Wednesday, May 10th. Barclays PLC lowered their price target on shares of Peyto Exploration & Development Corp from C$30.00 to C$26.00 in a research report on Monday, July 24th. CSFB restated a neutral rating and set a C$28.00 price target on shares of Peyto Exploration & Development Corp in a research report on Wednesday, May 10th. Finally, National Bank Financial set a C$29.00 price target on shares of Peyto Exploration & Development Corp in a research report on Friday, June 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Peyto Exploration & Development Corp presently has a consensus rating of Buy and an average target price of C$34.59.

Peyto Exploration & Development Corp (TSE:PEY) traded down 0.54% during trading on Friday, reaching $20.14. The company had a trading volume of 294,006 shares. Peyto Exploration & Development Corp has a 12-month low of $20.01 and a 12-month high of $39.41. The stock has a 50 day moving average of $22.49 and a 200-day moving average of $25.52. The stock has a market capitalization of $3.32 billion and a P/E ratio of 29.93.

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The company also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Thursday, July 27th. This is a boost from Peyto Exploration & Development Corp’s previous monthly dividend of $0.09.

In other Peyto Exploration & Development Corp news, Director Stephen Jonathan Chetner bought 20,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was purchased at an average cost of C$23.09 per share, for a total transaction of C$461,800.00. Also, insider Darren Gee bought 10,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of C$23.95 per share, with a total value of C$239,500.00. Insiders bought a total of 40,000 shares of company stock valued at $935,800 in the last 90 days.

Peyto Exploration & Development Corp 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.

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

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