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Peyto Exploration & Development’s Dividend Announcement Peyto Exploration & Development Announces $0.11 Dividend

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  <title>Peyto Exploration & Development’s Dividend Announcement</title>
  Peyto Exploration & Development Announces $0.11 Dividend

Peyto Exploration & Development, the Calgary-based energy company, has declared a regular monthly dividend of $0.11 per share ($1.32 annualized) on February 15, 2024. This announcement marks a consistency in the dividend issuance, mirroring the previous payout. Shareholders of record as of February 29, 2024, will receive the payment on March 15, 2024.

The ex-dividend date, the day by which an investor must own the shares to be eligible to receive the dividend, is set for February 28, 2024. This announcement comes at a time when the company’s share price is $9.98, presenting a hefty dividend yield of 13.23%.

Fund Sentiment

Notably, there has been a decrease of 3.77% in the number of funds or institutions reporting positions in Peyto Exploration & Development. At the same time, the average portfolio weight of all funds dedicated to PEYUF has risen by a substantial 21.69%. The total shares owned by institutions also decreased by 39.02% to 16,256K shares in the last three months.

Analyst Price Forecast

Analysts are forecasting a potential 19.79% upside, with an average one-year price target of 11.95 as of January 20, 2024. This represents a significant increase from the stock’s latest reported closing price of $9.98. The price forecasts range from a low of 10.06 to a high of $15.49.

The projected annual revenue for Peyto Exploration & Development stands at 1,345MM, with a projected annual non-GAAP EPS of 3.01.

Institutional Shareholding Updates

Among the notable institutional shareholders, the iShares International Select Dividend ETF (IDV) holds 2,864K shares, indicating a decrease of 7.78% from the prior filing. However, the firm has increased its portfolio allocation in PEYUF by 34.51% over the last quarter.

Meanwhile, the Dfa International Small Cap Value Portfolio – Institutional Class (DISVX) holds 2,778K shares, showing an increase of 0.52%, and the Davenport Small Cap Focus Fund (DSCPX) holds 1,720K shares with no change in the last quarter. Additionally, the Avantis International Small Cap Value ETF (AVDV) holds 1,549K shares, representing an increase of 32.98%.

Finally, the First Trust Dow Jones Global Select Dividend Index Fund (FGD) holds 1,223K shares, marking a decrease of 1.12%. However, similar to other institutions, FGD has also increased its portfolio allocation in PEYUF, showing a commendable 28.06% rise over the last quarter.

It is essential to note that these numbers and trends provide valuable insights into the sentiments and movements of institutional investors in Peyto Exploration & Development. These changes often reflect broader market expectations and investor confidence in the company’s future prospects.

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