Peyto Exploration & Development (OTCMKTS:PEYUF) Trading Up 1.1% – Here’s What Happened

Shares of Peyto Exploration & Development Corp. (OTCMKTS:PEYUF) rose 1.1% during trading on Wednesday . The company traded as high as $19.58 and last traded at $19.45. Approximately 81,191 shares changed hands during trading, a decline of 38% from the average daily volume of 130,765 shares. The stock had previously closed at $19.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PEYUF shares. Scotiabank reaffirmed an “outperform” rating on shares of Peyto Exploration & Development in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce upgraded shares of Peyto Exploration & Development from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 15th. Desjardins raised shares of Peyto Exploration & Development from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Finally, TD Securities reissued a “buy” rating on shares of Peyto Exploration & Development in a research note on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Peyto Exploration & Development Stock Up 1.1%

The firm has a fifty day simple moving average of $17.18 and a 200 day simple moving average of $15.28.

Peyto Exploration & Development Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.0784 dividend. This represents a dividend yield of 604.0%. The ex-dividend date of this dividend was Friday, November 28th. Peyto Exploration & Development’s dividend payout ratio (DPR) is 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.