Raymond James Financial Issues Positive Forecast for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price boosted by Raymond James Financial from C$8.00 to C$8.50 in a research report released on Friday morning,BayStreet.CA reports. They currently have a strong-buy rating on the stock.

Several other research firms have also recently weighed in on BTE. Royal Bank Of Canada increased their price target on shares of Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. TD upped their target price on Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research report on Monday, May 11th. ATB Cormark Capital Markets upped their target price on Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. Finally, National Bank Financial lifted their price target on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Baytex Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$7.05.

Baytex Energy Price Performance

Shares of BTE opened at C$6.39 on Friday. The firm has a market capitalization of C$4.55 billion, a PE ratio of -6.66, a PEG ratio of 0.12 and a beta of 0.41. The company’s 50-day moving average is C$6.09 and its 200-day moving average is C$5.78. Baytex Energy has a fifty-two week low of C$2.68 and a fifty-two week high of C$7.37. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.15 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, July 30th. The company reported C$0.24 earnings per share (EPS) for the quarter. The company had revenue of C$564.88 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 year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, June 15th. Baytex Energy’s dividend payout ratio is presently -7.03%.

Insider Activity

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total value of C$531,560.00. Following the transaction, the director owned 15,400 shares in the company, valued at approximately C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. Company insiders own 0.83% of the company’s stock.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.