11:03 AM EDT, 05/21/2024 (MT Newswires) -- RBC Capital Markets said Tuesday Peyto Exploration & Development's (PEY.TO) first-quarter adjusted funds from operations (AFFO)of $1.05 per share aligned with its estimate.

The Western Canadian oil and gas producer also maintained its 2024 capital budget of $475 million while indicating that it would target the low end of the guidance range.

RBC also noted that Peyto provided an operations update with continued development in Greater Sundance and its recently acquired Repsol lands.

Peyto shares were last seen unchanged at $15.92 on the Toronto Stock Exchange.

Price: 15.91, Change: -0.01, Percent Change: -0.06