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

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Six 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 target price among brokerages that have covered the stock in the last year is C$7.05.

Several research analysts recently issued reports on BTE shares. Scotia increased 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 report on Friday, May 8th. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. 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. Raymond James Financial increased their price objective on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. Finally, TD lifted their price target on shares of 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.

Baytex Energy Stock Down 3.4%

Shares of TSE BTE opened at C$5.76 on Thursday. The company has a debt-to-equity ratio of 6.94, a current ratio of 2.82 and a quick ratio of 0.77. Baytex Energy has a 1 year low of C$2.68 and a 1 year high of C$7.37. The business has a 50-day moving average of C$6.05 and a two-hundred day moving average of C$5.82. The company has a market capitalization of C$4.08 billion, a price-to-earnings ratio of -6.26, a price-to-earnings-growth ratio of 0.12 and a beta of 0.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, July 30th. The company reported C$0.24 earnings per share (EPS) for the quarter. The firm had revenue of C$564.88 million during the quarter. Baytex Energy had a negative return on equity of 26.41% and a negative net margin of 131.38%. On average, analysts forecast that Baytex Energy will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Baytex Energy’s dividend payout ratio is presently -7.34%.

Insider Activity

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

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.