Baytex Energy (TSE:BTE) Price Target Cut to C$6.00 by Analysts at Canaccord Genuity Group

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price reduced by Canaccord Genuity Group from C$6.50 to C$6.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

A number of other research firms have also recently issued reports on BTE. Raymond James raised shares of Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. TD Securities cut their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Royal Bank of Canada decreased their price target on shares of Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Finally, National Bankshares cut their price objective on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.11.

Baytex Energy Stock Performance

Shares of TSE BTE opened at C$4.11 on Tuesday. Baytex Energy has a 1 year low of C$3.85 and a 1 year high of C$6.35. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. The company’s fifty day moving average price is C$4.40 and its 200 day moving average price is C$4.72. The company has a market capitalization of C$3.31 billion, a PE ratio of -5.96, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, July 25th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). The business had revenue of C$1.13 billion for the quarter, compared to analyst estimates of C$1.04 billion. Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. On average, research analysts predict that Baytex Energy will post 0.3703367 earnings per share for the current year.

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, October 1st were given a dividend of $0.023 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.09 dividend on an annualized basis and a yield of 2.24%. Baytex Energy’s payout ratio is -13.04%.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.83% of the stock is owned by company insiders.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.