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Peyto Exploration & Development

TSX:PEY
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PEY
TSX
CA$668M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin, Alberta. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Peyto Exploration & Development has significant price volatility in the past 3 months.
PEY Share Price and Events
7 Day Returns
-0.5%
TSX:PEY
1.5%
CA Oil and Gas
1.2%
CA Market
1 Year Returns
-60.5%
TSX:PEY
-14.5%
CA Oil and Gas
-2.6%
CA Market
PEY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Peyto Exploration & Development (PEY) -0.5% -19.6% -44.7% -60.5% -87.8% -90%
CA Oil and Gas 1.5% -1.5% -4% -14.5% -11.8% -38.6%
CA Market 1.2% 1.3% 1% -2.6% 12.8% 2.2%
1 Year Return vs Industry and Market
  • PEY underperformed the Oil and Gas industry which returned -14.5% over the past year.
  • PEY underperformed the Market in Canada which returned -2.6% over the past year.
Price Volatility
PEY
Industry
5yr Volatility vs Market

Value

 Is Peyto Exploration & Development undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Peyto Exploration & Development to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Peyto Exploration & Development.

TSX:PEY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.4%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:PEY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.919 (1 + (1- 26.5%) (179.67%))
1.759
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.76
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.759 * 5.96%)
12.43%

Discounted Cash Flow Calculation for TSX:PEY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Peyto Exploration & Development is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:PEY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 12.43%)
2019 204.50 Analyst x2 181.89
2020 147.00 Analyst x2 116.30
2021 114.26 Est @ -22.27% 80.40
2022 97.12 Est @ -15.01% 60.78
2023 87.48 Est @ -9.92% 48.70
2024 81.92 Est @ -6.36% 40.56
2025 78.75 Est @ -3.87% 34.68
2026 77.08 Est @ -2.12% 30.20
2027 76.38 Est @ -0.9% 26.62
2028 76.35 Est @ -0.05% 23.66
Present value of next 10 years cash flows CA$643.80
TSX:PEY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$76.35 × (1 + 1.95%) ÷ (12.43% – 1.95%)
CA$742.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$742.61 ÷ (1 + 12.43%)10
CA$230.15
TSX:PEY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$643.80 + CA$230.15
CA$873.95
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$873.95 / 164.87
CA$5.3
TSX:PEY Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$5.30
Current discount Discount to share price of CA$4.05
= -1 x (CA$4.05 - CA$5.30) / CA$5.30
23.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Peyto Exploration & Development is available for.
Intrinsic value
24%
Share price is CA$4.05 vs Future cash flow value of CA$5.3
Current Discount Checks
For Peyto Exploration & Development to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Peyto Exploration & Development's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Peyto Exploration & Development's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Peyto Exploration & Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Peyto Exploration & Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PEY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.64
TSX:PEY Share Price ** TSX (2019-06-21) in CAD CA$4.05
Canada Oil and Gas Industry PE Ratio Median Figure of 59 Publicly-Listed Oil and Gas Companies 13.75x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 15.1x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Peyto Exploration & Development.

TSX:PEY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:PEY Share Price ÷ EPS (both in CAD)

= 4.05 ÷ 0.64

6.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Peyto Exploration & Development is good value based on earnings compared to the CA Oil and Gas industry average.
  • Peyto Exploration & Development is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Peyto Exploration & Development's expected growth come at a high price?
Raw Data
TSX:PEY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-155.8%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 36 Publicly-Listed Oil and Gas Companies 0.85x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

TSX:PEY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.28x ÷ -155.8%

-0.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Peyto Exploration & Development earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Peyto Exploration & Development's assets?
Raw Data
TSX:PEY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$10.03
TSX:PEY Share Price * TSX (2019-06-21) in CAD CA$4.05
Canada Oil and Gas Industry PB Ratio Median Figure of 224 Publicly-Listed Oil and Gas Companies 0.79x
Canada Market PB Ratio Median Figure of 2,425 Publicly-Listed Companies 1.43x
TSX:PEY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:PEY Share Price ÷ Book Value per Share (both in CAD)

= 4.05 ÷ 10.03

0.4x

* Primary Listing of Peyto Exploration & Development.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Peyto Exploration & Development is good value based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Peyto Exploration & Development's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Peyto Exploration & Development has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Peyto Exploration & Development expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-155.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Peyto Exploration & Development expected to grow at an attractive rate?
  • Peyto Exploration & Development's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Peyto Exploration & Development's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Peyto Exploration & Development's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:PEY Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:PEY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -155.8%
TSX:PEY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 14.1%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 8.1%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:PEY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:PEY Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 531
2020-12-31 603 405 -80 2
2019-12-31 534 375 -14 2
TSX:PEY Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 466 434 106
2018-12-31 476 486 129
2018-09-30 516 527 159
2018-06-30 556 547 175
2018-03-31 628 558 184
2017-12-31 669 535 177
2017-09-30 689 530 164
2017-06-30 680 517 142
2017-03-31 589 492 111
2016-12-31 532 509 112
2016-09-30 508 501 117
2016-06-30 510 511 132

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Peyto Exploration & Development's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Peyto Exploration & Development's revenue is expected to grow by 14.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:PEY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Peyto Exploration & Development Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PEY Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.49 0.57 0.40 2.00
2019-12-31 0.40 0.41 0.38 2.00
TSX:PEY Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.64
2018-12-31 0.78
2018-09-30 0.97
2018-06-30 1.06
2018-03-31 1.12
2017-12-31 1.07
2017-09-30 0.99
2017-06-30 0.86
2017-03-31 0.67
2016-12-31 0.69
2016-09-30 0.73
2016-06-30 0.83

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Peyto Exploration & Development will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Peyto Exploration & Development's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Peyto Exploration & Development has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Peyto Exploration & Development performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Peyto Exploration & Development's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Peyto Exploration & Development's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Peyto Exploration & Development's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Peyto Exploration & Development's 1-year earnings growth is negative, it can't be compared to the CA Oil and Gas industry average.
Earnings and Revenue History
Peyto Exploration & Development's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Peyto Exploration & Development Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PEY Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 466.35 106.33 14.58
2018-12-31 475.52 129.11 14.34
2018-09-30 516.27 159.20 17.15
2018-06-30 556.42 174.51 18.46
2018-03-31 628.13 184.07 21.81
2017-12-31 668.91 176.58 22.04
2017-09-30 688.52 163.52 21.97
2017-06-30 680.22 141.51 34.26
2017-03-31 588.77 110.66 42.70
2016-12-31 531.59 112.35 43.43
2016-09-30 507.54 117.27 46.21
2016-06-30 510.13 131.80 36.45
2016-03-31 568.24 134.99 23.72
2015-12-31 582.26 137.56 23.24
2015-09-30 629.10 162.75 15.53
2015-06-30 697.14 194.30 13.97
2015-03-31 770.76 244.16 21.70
2014-12-31 849.09 261.78 25.92
2014-09-30 793.63 231.17 35.94
2014-06-30 699.61 192.74 36.31
2014-03-31 624.92 168.35 34.20
2013-12-31 521.20 142.63 27.07
2013-09-30 478.58 130.46 21.10
2013-06-30 444.25 123.06 18.59
2013-03-31 368.43 103.49 13.07
2012-12-31 326.98 93.95 12.91
2012-09-30 313.86 94.16 23.34
2012-06-30 324.22 108.85 22.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Peyto Exploration & Development has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Peyto Exploration & Development used its assets less efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Peyto Exploration & Development's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Peyto Exploration & Development's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Peyto Exploration & Development has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Peyto Exploration & Development's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Peyto Exploration & Development's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Peyto Exploration & Development is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Peyto Exploration & Development's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Peyto Exploration & Development's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Peyto Exploration & Development Company Filings, last reported 2 months ago.

TSX:PEY Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,654.08 1,190.25
2018-12-31 1,680.46 1,169.28
2018-09-30 1,647.06 1,160.00 1.00
2018-06-30 1,671.05 1,210.00 1.13
2018-03-31 1,725.13 1,270.00
2017-12-31 1,722.98 1,285.00 5.65
2017-09-30 1,668.76 1,235.00 1.56
2017-06-30 1,647.13 1,205.00 4.24
2017-03-31 1,632.39 1,135.00
2016-12-31 1,540.93 1,070.00 2.10
2016-09-30 1,638.86 1,045.00 33.10
2016-06-30 1,657.00 1,045.00 25.46
2016-03-31 1,655.09 1,140.00 3.74
2015-12-31 1,623.56 1,045.00
2015-09-30 1,619.92 960.00
2015-06-30 1,640.62 910.00
2015-03-31 1,528.96 1,015.00
2014-12-31 1,551.94 925.00
2014-09-30 1,434.75 885.00 21.85
2014-06-30 1,392.91 825.00
2014-03-31 1,344.70 760.00
2013-12-31 1,200.64 875.00
2013-09-30 1,218.36 780.00 0.19
2013-06-30 1,227.84 750.00 15.51
2013-03-31 1,197.25 640.00
2012-12-31 1,210.07 580.00
2012-09-30 1,092.08 615.00
2012-06-30 999.06 495.00
  • Peyto Exploration & Development's level of debt (72%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (56.5% vs 72% today).
  • Debt is well covered by operating cash flow (36.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.8x coverage).
X
Financial health checks
We assess Peyto Exploration & Development's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Peyto Exploration & Development has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Peyto Exploration & Development's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.93%
Current annual income from Peyto Exploration & Development dividends. Estimated to be 6.09% next year.
If you bought CA$2,000 of Peyto Exploration & Development shares you are expected to receive CA$119 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Peyto Exploration & Development's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.11%).
  • Peyto Exploration & Development's dividend is above the markets top 25% of dividend payers in Canada (5.71%).
Upcoming dividend payment

Purchase Peyto Exploration & Development before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:PEY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 4.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:PEY Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.24 8.00
2019-12-31 0.25 10.00
TSX:PEY Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-04-15 0.240 4.650
2019-01-21 0.240 3.366
2019-01-16 0.240 3.316
2018-10-15 0.720 7.676
2018-07-13 0.720 6.693
2018-04-13 0.720 6.650
2018-03-15 0.720 6.581
2018-01-12 0.720 6.506
2017-10-13 1.320 8.284
2017-07-14 1.320 6.349
2017-04-13 1.320 5.376
2017-01-13 1.320 4.725
2016-10-14 1.320 3.894
2016-07-15 1.320 3.537
2016-04-15 1.320 3.952
2016-01-15 1.320 4.598
2015-10-15 1.320 5.001
2015-07-15 1.320 4.576
2015-04-15 1.320 3.985
2015-03-13 1.320 3.815
2015-02-13 1.320 3.771
2014-10-07 1.200 3.586
2014-07-15 1.200 3.310
2014-04-15 1.200 3.045
2014-01-15 0.960 2.720
2013-12-13 0.960 2.923
2013-11-15 0.960 3.049
2013-07-15 0.960 3.214
2013-06-14 0.960 3.118
2013-04-15 0.960 3.234
2013-01-15 0.720 2.861
2012-07-16 0.720 3.157
2012-04-16 0.720 4.075
2012-01-16 0.720 4.032
2011-10-17 0.720 3.101
2011-07-15 0.720 3.352
2011-05-12 0.720 3.414
2011-05-11 0.720 3.696
2011-02-11 0.720 3.672
2011-01-17 0.720 3.835
2011-01-07 1.440 7.587

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Peyto Exploration & Development has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Peyto Exploration & Development has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Peyto Exploration & Development's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Peyto Exploration & Development's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Peyto Exploration & Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Peyto Exploration & Development has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Peyto Exploration & Development's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Darren Gee
COMPENSATION CA$2,247,650
AGE 50
TENURE AS CEO 12.4 years
CEO Bio

Mr. Darren Gee has been the Chief Executive Officer of Peyto Exploration & Development Corp since January 1, 2007 and has been its President since August 2006. Mr. Gee served as Chief Executive Officer and President of Peyto Energy Administration Corp. He served as Vice President of Engineering at Peyto Exploration & Development Corp since March 2001 to August 2006. Mr. Gee worked for Petro-Canada, Anderson Exploration Ltd., Renaissance and Husky Energy Inc. He has been a Director of Peyto Exploration & Development Corp since January 1, 2007. He has been a Director at Altura Energy Inc. since July 31, 2015. He served as a Director of Endurance Energy Ltd until September 1, 2015. He served as a Director at Peyto Energy Administration Corp. Mr. Gee has over 23 years of experience in the Canadian oil and gas business. He is registered as a P.Eng. With APEGA. He holds BSc in Mechanical Engineering from the University of Alberta in 1989 and is a member of APEGA.

CEO Compensation
  • Darren's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Darren's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Peyto Exploration & Development management team in years:

8
Average Tenure
51
Average Age
  • The average tenure for the Peyto Exploration & Development management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Darren Gee

TITLE
president
COMPENSATION
CA$2M
AGE
50
TENURE
12.4 yrs

Kathy Turgeon

TITLE
VP of Finance
COMPENSATION
CA$1M
AGE
56
TENURE
11.6 yrs

JP Lachance

TITLE
VP of Engineering & COO
COMPENSATION
CA$2M
TENURE
1.3 yrs

David Thomas

TITLE
Vice President of Exploration
COMPENSATION
CA$2M
TENURE
8.6 yrs

Steve Chetner

TITLE
Corporate Secretary
COMPENSATION
CA$120K
AGE
51
TENURE
19.4 yrs

Tim Louie

TITLE
Vice President of Land
COMPENSATION
CA$843K
TENURE
7.4 yrs

Lee Curran

TITLE
Vice President of Drilling & Completions
COMPENSATION
CA$1M
TENURE
4.4 yrs

Todd Burdick

TITLE
Vice President of Production
COMPENSATION
CA$1M
TENURE
4.4 yrs

Lydia Hamaliuk

TITLE
Manager of Human Resources
Board of Directors Tenure

Average tenure and age of the Peyto Exploration & Development board of directors in years:

10.4
Average Tenure
52
Average Age
  • The average tenure for the Peyto Exploration & Development board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Don Gray

TITLE
Independent Chairman of the Board
COMPENSATION
CA$136K
AGE
52
TENURE
10.1 yrs

Darren Gee

TITLE
president
COMPENSATION
CA$2M
AGE
50
TENURE
12.4 yrs

Kathy Turgeon

TITLE
VP of Finance
COMPENSATION
CA$1M
AGE
56
TENURE
1.1 yrs

Mick MacBean

TITLE
Lead Independent Director
COMPENSATION
CA$106K
AGE
50
TENURE
10.4 yrs

Greg Fletcher

TITLE
Independent Director
COMPENSATION
CA$98K
AGE
70
TENURE
12.4 yrs

Brian Davis

TITLE
Independent Director
COMPENSATION
CA$98K
AGE
52
TENURE
12.8 yrs

John Rossall

TITLE
Director
AGE
57
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • Peyto Exploration & Development individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
14. Jun 19 Sell Stephen Chetner Individual 14. Jun 19 14. Jun 19 -50,000 CA$3.90 CA$-195,100
28. May 19 Buy John Rossall Individual 28. May 19 28. May 19 20,000 CA$5.12 CA$102,400
05. Apr 19 Buy Kathy Turgeon Individual 04. Apr 19 04. Apr 19 10,000 CA$6.44 CA$64,400
22. Mar 19 Buy Jean-Paul Lachance Individual 22. Mar 19 22. Mar 19 8,800 CA$7.41 CA$65,208
08. Jan 19 Sell Scott Robinson Individual 03. Jan 19 03. Jan 19 -20,000 CA$7.56 CA$-151,200
28. Dec 18 Sell Scott Robinson Individual 24. Dec 18 24. Dec 18 -10,000 CA$6.90 CA$-69,000
11. Dec 18 Sell Scott Robinson Individual 06. Dec 18 06. Dec 18 -40,000 CA$9.35 CA$-374,000
03. Dec 18 Sell Darren Gee Individual 03. Dec 18 03. Dec 18 -40,000 CA$10.15 CA$-406,080
21. Nov 18 Sell Kathy Turgeon Individual 19. Nov 18 21. Nov 18 -20,000 CA$11.62 CA$-231,709
10. Oct 18 Sell Michael MacBean Individual 10. Oct 18 10. Oct 18 -20,000 CA$12.13 CA$-242,600
10. Oct 18 Buy Michael MacBean Individual 10. Oct 18 10. Oct 18 20,000 CA$12.13 CA$242,600
01. Oct 18 Buy Scott Robinson Individual 01. Oct 18 01. Oct 18 50,000 CA$11.50 CA$575,000
02. Sep 18 Sell Scott Robinson Individual 30. Aug 18 30. Aug 18 -30,000 CA$10.99 CA$-329,589
X
Management checks
We assess Peyto Exploration & Development's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Peyto Exploration & Development has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Peyto Exploration & Development Corp.'s (TSE:PEY) P/E Ratio Really That Good?

We'll apply a basic P/E ratio analysis to Peyto Exploration &amp; Development Corp.'s (TSE:PEY), to help you decide if the stock is worth further research. … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Peyto Exploration &amp; Development: P/E of 6.05 = CA$3.9 ÷ CA$0.64 (Based on the year to March 2019.) Is A High P/E Ratio Good? … Peyto Exploration &amp; Development shrunk earnings per share by 42% over the last year.

Simply Wall St -

How Should Investors Feel About Peyto Exploration & Development Corp.'s (TSE:PEY) CEO Pay?

See our latest analysis for Peyto Exploration &amp; Development How Does Darren Gee's Compensation Compare With Similar Sized Companies? … With a three year total loss of 84%, Peyto Exploration &amp; Development Corp. … We compared the total CEO remuneration paid by Peyto Exploration &amp; Development Corp., and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Did You Manage To Avoid Peyto Exploration & Development's (TSE:PEY) Devastating 85% Share Price Drop?

During the five years over which the share price declined, Peyto Exploration &amp; Development's earnings per share (EPS) dropped by 11% each year. … This free interactive report on Peyto Exploration &amp; Development's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. … As it happens, Peyto Exploration &amp; Development's TSR for the last 5 years was -81%, which exceeds the share price return mentioned earlier.

Simply Wall St -

How Much Are Peyto Exploration & Development Corp. (TSE:PEY) Insiders Taking Off The Table?

So shareholders might well want to know whether insiders have been buying or selling shares in Peyto Exploration & Development Corp. … The Last 12 Months Of Insider Transactions At Peyto Exploration & Development. … That means that even when the share price was higher than CA$5.65 (the recent price), an insider wanted to purchase shares

Simply Wall St -

Is Peyto Exploration & Development Corp.’s (TSE:PEY) 6.7% Return On Capital Employed Good News?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

What You Must Know About Peyto Exploration & Development Corp.'s (TSE:PEY) Beta Value

In finance, Beta is a measure of volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Peyto Exploration & Development Corp. (TSE:PEY): 2 Days To Buy Before The Ex-Dividend Date

Investors who want to cash in on Peyto Exploration & Development Corp.'s (TSE:PEY) upcoming dividend of CA$0.02 per share have only 2 days left to buy the shares before its ex-dividend date, 28 March 2019, in time for dividends payable on the 15 April 2019. … Below, I will explain how holding Peyto Exploration & Development can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … See our latest analysis for Peyto Exploration & Development?

Simply Wall St -

Do You Like Peyto Exploration & Development Corp (TSE:PEY) At This P/E Ratio?

We'll show how you can use Peyto Exploration & Development Corp's (TSE:PEY) P/E ratio to inform your assessment of the investment opportunity. … Peyto Exploration & Development has a P/E ratio of 9.64, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What Kind Of Shareholder Appears On The Peyto Exploration & Development Corp's (TSE:PEY) Shareholder Register?

If you want to know who really controls Peyto Exploration & Development Corp (TSE:PEY), then you'll have to look at the makeup of its share registry. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned.

Simply Wall St -

Why Peyto Exploration & Development Corp (TSE:PEY) Looks Like A Quality Company

Our data shows Peyto Exploration & Development has a return on equity of 10% for the last year. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.10 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of oil and natural gas, and natural gas liquids in Deep Basin, Alberta. As of December 31, 2018, it had a total proved plus probable reserves of 803 million barrels of oil equivalent. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp. in January 2011. Peyto Exploration & Development Corp. was incorporated in 1997 and is headquartered in Calgary, Canada.

Details
Name: Peyto Exploration & Development Corp.
PEY
Exchange: TSX
Founded: 1997
CA$667,740,408
164,874,175
Website: http://www.peyto.com
Address: Peyto Exploration & Development Corp.
600 – 3rd Avenue SW,
Suite 300,
Calgary,
Alberta, T2P 0G5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PEY Common Shares The Toronto Stock Exchange CA CAD 04. Aug 2006
OTCPK PEYU.F Common Shares Pink Sheets LLC US USD 04. Aug 2006
DB PXK Common Shares Deutsche Boerse AG DE EUR 04. Aug 2006
BST PXK Common Shares Boerse-Stuttgart DE EUR 04. Aug 2006
LSE 0VCO Common Shares London Stock Exchange GB CAD 04. Aug 2006
Number of employees
Current staff
Staff numbers
53
Peyto Exploration & Development employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 00:23
End of day share price update: 2019/06/21 00:00
Last estimates confirmation: 2019/06/18
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.