Peyto Exploration & Development (OTCMKTS:PEYUF) Trading Down 1.2% – Here’s Why

Peyto Exploration & Development Corp. (OTCMKTS:PEYUF)’s stock price was down 1.2% on Tuesday . The company traded as low as $16.7076 and last traded at $16.7076. Approximately 127,442 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 94,849 shares. The stock had previously closed at $16.9040.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEYUF shares. Desjardins raised Peyto Exploration & Development from a “hold” rating to a “buy” rating in a report on Monday, November 24th. TD Securities reaffirmed a “buy” rating on shares of Peyto Exploration & Development in a report on Thursday, December 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Peyto Exploration & Development Price Performance

The firm has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $14.46.

Peyto Exploration & Development Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.0784 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 604.0%. Peyto Exploration & Development’s payout ratio is currently 74.96%.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. is a Calgary-based Canadian energy company engaged in the exploration, development and production of natural gas and natural gas liquids. The company focuses on exploiting liquids-rich natural gas opportunities in the Deep Basin and Brazeau areas of west central Alberta. Peyto’s integrated business model encompasses land acquisition, well planning, drilling, completion and production operations, supported by in-house technical, engineering and operations teams.

Since its incorporation in 1998, Peyto has concentrated its activities entirely within Alberta’s prolific Montney, Falher and Notikewin formations.