Baytex Energy Corp. (TSE:BTE) Receives C$6.35 Consensus Price Target from Analysts

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$6.25.

A number of analysts have recently issued reports on BTE shares. Royal Bank of Canada lowered their price target on Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Canaccord Genuity Group upped their target price on shares of Baytex Energy from C$6.25 to C$6.50 in a report on Friday, July 26th.

Baytex Energy Stock Performance

TSE:BTE opened at C$4.27 on Monday. The company has a fifty day moving average of C$4.70 and a two-hundred day moving average of C$4.77. Baytex Energy has a fifty-two week low of C$3.92 and a fifty-two week high of C$6.37. The stock has a market capitalization of C$3.44 billion, a PE ratio of -6.19, a P/E/G ratio of 0.12 and a beta of 2.65. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.13 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. The company had revenue of C$1.13 billion during the quarter, compared to analysts’ expectations of C$1.04 billion. As a group, research analysts forecast that Baytex Energy will post 0.6550633 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.023 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.09 annualized dividend and a dividend yield of 2.15%. Baytex Energy’s dividend payout ratio is currently -13.04%.

Insider Activity at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. Company insiders own 0.82% of the company’s stock.

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.