RE:Nat gas up, Pey downAlong with the other valid points made, Peyto trades more like a bond. Canadian bond yields were up today with the hot CPI print in Canada so put simply, stocks that pay large dividends tend to underperform as they become less compelling as an alternative to risk free investments. Peyto is also more leveraged now, so as bond rates rise, Peyto incurs higher borrowing costs, which obviously are a drag on FCF generation.