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Peyto Exploration & Development Corp T.PEY

Alternate Symbol(s):  PEYUF

Peyto Exploration & Development Corp. is a Canadian energy company involved in the development and production of natural gas, oil and natural gas liquids in Alberta's deep basin. The Alberta Deep Basin is a geologic setting situated on the northeastern front of the Rocky Mountain belt in the deepest part of the Alberta sedimentary basin. It acquired Repsol Canada Energy Partnership (Repsol Assets), which included around 23,000 barrels of oil equivalent per day of low-decline production and 455,000 net acres of mineral land. The acquisition includes five operated natural gas plants with combined net natural gas processing capacity of around 400 million cubic feet per day, 2,200 kilometers (km) of operated pipelines, and a 12 MW cogeneration power plant. These assets include Edson Gas Plant and the Central Foothills Gas Gathering System. The Company has a total proved plus probable reserves of approximately 7.8 trillion cubic feet equivalent (1.3 billion barrels of oil equivalent).


TSX:PEY - Post by User

Comment by Quintessential1on Dec 07, 2023 3:20pm
131 Views
Post# 35773710

RE:RE:RE:RE:Almost

RE:RE:RE:RE:AlmostThe share price dropping certainly increases the yield percentage but it has nothing to do with PEY's ability to keep paying their dividend. 

We have been discussing buying not selling.  Selling should have occured long ago unless of course you are just using it as dividend income and then who cares? 

PEY's share price has been below $11 before (this year in fact) and they did not slash their dividend and recovered and then some.  If it goes sub $11 I am most certainly a buyer as I don't see it dropping below the summer low of $10.62 a pretty good support level but also below the trend line.   

This is where cost averaging down may come in handy.  Will it bounce on the trend line at around  $11 or continue down to $10.62.  You could split the buy on both levels but I would rather not risk it and buy them all at the higher level.  The difference isn't enough to worry about IMO.

GLTY and all



stockmarket1 wrote: It's keeps dropping by the day. Everyday! The way this is going, I see peyto dropping below $11 very soon. Which would then bring a yield of12% and more if it c9ntiues to drop below $11. We could very well see a dividend cut if no recovery occurs. The current path for peyto right now is not good. Time for me to lighten the shares here, I think.l before it gets worse.  Your capital drops much more that what the dividend pays. My view anyway. I didn't think we would drop this much for its high of $15.20. Over 20% now. 




Quintessential1 wrote: The market moves on sentiment until logic prevails.  

A dropping commodity price will cause the share price to keep dropping until the ER numbers can prove out that the company is making enough money that the dividend is indeed quite safe.

Global warming may reduce the winter heating requirements or not as the shifting weather patterns are sending arctic cold into regions like Europe that usually are sheltered and benefit from a jet stream that has historically kept them warmer and well not directly affecting North American NG consumption their new reliance on LNG will see NG prices rise globally.  Combine this with coal plant closures and NG power plant demand for both summer cooling and winter heating the global demand of NG is on the rise.

GLTA


Sukhi19 wrote: Market moves by sentiment  not logic.
Hence the SP will keep falling till NG prices keeps sliding.
If you are taking a minimum of two years view, PEY should be OK. But with global warming who knows what is going to happen.

PEY has slashed the divi in past. If NG moves below $2, they may have to cut it again.
Fingers crossed.






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