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

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$7.00.

A number of equities analysts have issued reports on BTE shares. TD raised their price target 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. TD Securities raised their price target on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research report on Thursday, March 5th. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Scotia raised their price target on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada raised their price target on shares of 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.

Baytex Energy Stock Performance

BTE opened at C$6.47 on Wednesday. Baytex Energy has a 12-month low of C$2.43 and a 12-month high of C$7.37. 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 has a market capitalization of C$4.68 billion, a PE ratio of -6.74, a P/E/G ratio of 0.12 and a beta of 0.34. The firm has a 50 day moving average of C$6.51 and a two-hundred day moving average of C$5.44.

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

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s payout ratio is -7.03%.

Insider Activity

In other news, insider Chadwick Kalmakoff bought 15,000 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of C$5.73 per share, with a total value of C$85,950.00. Following the acquisition, the insider directly owned 382,331 shares in the company, valued at C$2,190,756.63. This trade represents a 4.08% increase in their ownership of the stock. Also, insider James Robert Maclean bought 10,000 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of C$5.73 per share, with a total value of C$57,300.00. Following the completion of the acquisition, the insider owned 185,322 shares in the company, valued at approximately C$1,061,895.06. This represents a 5.70% increase in their ownership of the stock. Over the last 90 days, insiders bought 49,800 shares of company stock worth $293,188. 0.83% of the stock is currently owned by corporate insiders.

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.