Baytex Energy Corp. (TSE:BTE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$7.05.

Several equities research analysts recently issued reports on BTE shares. 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 report on Monday, May 11th. Royal Bank Of Canada raised 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 note on Monday, May 11th. ATB Cormark Capital Markets lifted their price objective on Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. National Bank Financial upped their price objective on Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, Raymond James Financial increased their target price on Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a report on Friday, July 31st.

Baytex Energy Price Performance

TSE BTE opened at C$6.58 on Monday. Baytex Energy has a one year low of C$2.99 and a one year high of C$7.37. The stock has a 50-day moving average of C$6.00 and a 200 day moving average of C$6.01. The company has a market capitalization of C$4.60 billion, a price-to-earnings ratio of -7.15, a PEG ratio of 0.12 and a beta of 0.37. The company has a debt-to-equity ratio of 6.94, a quick ratio of 0.77 and a current ratio of 2.82.

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 business had revenue of C$564.88 million for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. On average, sell-side analysts forecast that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. Baytex Energy’s dividend payout ratio is presently -7.34%.

Insider Buying and Selling at Baytex Energy

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at approximately C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is owned by company insiders.

Baytex Energy Company Profile

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.