Brokerages Set Baytex Energy Corp. (TSE:BTE) Target Price at C$6.35

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$6.35.

BTE has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on Baytex Energy from C$7.00 to C$6.50 and set an “outperform” rating for the company in a research note on Monday, May 13th. Stifel Nicolaus increased their target price on Baytex Energy from C$6.25 to C$7.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Canaccord Genuity Group increased their target price on Baytex Energy from C$6.25 to C$6.50 in a research note on Friday, July 26th. TD Securities increased their target price on Baytex Energy from C$5.50 to C$6.00 in a research note on Friday, May 10th. Finally, BMO Capital Markets set a C$6.00 target price on Baytex Energy and gave the company a “market perform” rating in a research note on Tuesday, April 9th.

Insider Buying and Selling

In related news, Senior Officer Nicole Marie Frechette bought 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of C$4.75 per share, for a total transaction of C$25,175.00. In other Baytex Energy news, Director Mark Bly purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of C$3.42 per share, with a total value of C$51,300.00. Also, Senior Officer Nicole Marie Frechette purchased 5,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of C$4.75 per share, with a total value of C$25,175.00. Insiders purchased 47,350 shares of company stock worth $193,603 in the last 90 days. 0.79% of the stock is owned by company insiders.

Baytex Energy Stock Performance

Shares of TSE BTE opened at C$4.48 on Friday. The company has a debt-to-equity ratio of 63.22, a quick ratio of 0.77 and a current ratio of 0.67. The firm has a market cap of C$3.68 billion, a price-to-earnings ratio of -10.18, a P/E/G ratio of 0.12 and a beta of 2.76. The business’s 50-day simple moving average is C$4.80 and its 200-day simple moving average is C$4.72. Baytex Energy has a 52 week low of C$3.96 and a 52 week high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, May 9th. The company reported C($0.02) earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.15). Baytex Energy had a negative net margin of 9.88% and a negative return on equity of 8.56%. The business had revenue of C$984.19 million for the quarter. As a group, equities research analysts expect that Baytex Energy will post 0.4249084 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.023 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.09 annualized dividend and a dividend yield of 2.05%. Baytex Energy’s dividend payout ratio (DPR) is presently -20.45%.

Baytex Energy Company Profile

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.