Baytex Energy (TSE:BTE) PT Raised to C$6.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target hoisted by TD Securities from C$5.50 to C$6.00 in a report issued on Friday morning, BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets set a C$6.00 target price on Baytex Energy and gave the stock a market perform rating in a report on Tuesday, April 9th. ATB Capital dropped their target price on Baytex Energy from C$6.50 to C$6.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Stifel Nicolaus upped their price target on Baytex Energy from C$6.25 to C$7.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Royal Bank of Canada dropped their price target on Baytex Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Finally, Raymond James dropped their price target on Baytex Energy from C$6.75 to C$5.00 and set a market perform rating on the stock in a report on Friday, January 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$6.53.

Baytex Energy Price Performance

TSE:BTE traded down C$0.04 during midday trading on Friday, hitting C$4.68. 4,270,723 shares of the stock were exchanged, compared to its average volume of 4,602,238. Baytex Energy has a one year low of C$3.83 and a one year high of C$6.37. The company has a market capitalization of C$3.85 billion, a price-to-earnings ratio of -10.73, a P/E/G ratio of 0.12 and a beta of 2.78. The business has a 50-day moving average price of C$4.90 and a two-hundred day moving average price of C$4.77. The company has a current ratio of 0.67, a quick ratio of 0.77 and a debt-to-equity ratio of 63.22.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Wednesday, February 28th. The company reported C$0.25 EPS for the quarter, topping the consensus estimate of C$0.13 by C$0.12. Baytex Energy had a negative return on equity of 8.56% and a negative net margin of 9.88%. The firm had revenue of C$1.07 billion for the quarter. Sell-side analysts predict that Baytex Energy will post 0.6404342 EPS for the current year.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th will be given a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, June 14th. Baytex Energy’s payout ratio is -20.45%.

Insiders Place Their Bets

In other news, Senior Officer Eric Thomas Greager acquired 20,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of C$4.25 per share, for a total transaction of C$85,000.00. Corporate insiders own 0.78% of the company’s stock.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.