Brokerages Set Baytex Energy Corp. (TSE:BTE) Price Target at C$7.00

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned an average rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$7.00.

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and upped their target price for the company from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price target on Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Raymond James Financial boosted their price objective on Baytex Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Scotiabank increased their price objective on Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, TD raised their target price on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a research report on Monday, May 11th.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, insider Nicole Marie Frechette bought 8,500 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was acquired at an average price of C$5.84 per share, for a total transaction of C$49,640.00. Following the completion of the purchase, the insider owned 73,026 shares of the company’s stock, valued at approximately C$426,471.84. This represents a 13.17% increase in their ownership of the stock. Also, insider Chadwick Kalmakoff bought 15,000 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of C$5.73 per share, with a total value of C$85,950.00. Following the purchase, the insider directly owned 382,331 shares of the company’s stock, valued at approximately C$2,190,756.63. This trade represents a 4.08% increase in their position. Over the last 90 days, insiders purchased 49,800 shares of company stock valued at $293,188. Company insiders own 0.83% of the company’s stock.

Baytex Energy Price Performance

Shares of BTE opened at C$7.10 on Friday. Baytex Energy has a twelve month low of C$2.18 and a twelve month high of C$7.14. The firm has a market capitalization of C$5.14 billion, a price-to-earnings ratio of -7.40, a PEG ratio of 0.12 and a beta of 0.58. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. The firm’s fifty day simple moving average is C$6.08 and its 200-day simple moving average is C$5.04.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The company had revenue of C$401.37 million during the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. Equities analysts forecast that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s dividend payout ratio (DPR) is presently -7.03%.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.