Brokerages Set Baytex Energy Corp. (TSE:BTE) Price Target at C$5.59

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$5.59.

Several research analysts have recently weighed in on the company. TD Securities lowered their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. CIBC decreased their price objective on Baytex Energy from C$6.00 to C$5.00 in a report on Friday, January 17th. ATB Capital decreased their price objective on Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. BMO Capital Markets decreased their price objective on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Finally, Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th.

Baytex Energy Trading Up 3.7 %

Shares of Baytex Energy stock opened at C$3.09 on Monday. The stock has a market cap of C$2.44 billion, a P/E ratio of -7.03, a P/E/G ratio of 0.12 and a beta of 2.61. The stock’s 50 day simple moving average is C$3.48 and its 200-day simple moving average is C$3.87. Baytex Energy has a 1-year low of C$2.74 and a 1-year high of C$5.55. The company has a debt-to-equity ratio of 57.38, a current ratio of 0.69 and a quick ratio of 0.77.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, March 14th. Baytex Energy’s payout ratio is -20.48%.

Baytex Energy Company Profile

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.