Baytex Energy (TSE:BTE) Price Target Lowered to C$5.50 at Royal Bank of Canada

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target trimmed by Royal Bank of Canada from C$6.50 to C$5.50 in a research note published on Tuesday, BayStreet.CA reports.

Separately, Canaccord Genuity Group increased their target price on shares of Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Baytex Energy presently has an average rating of Moderate Buy and a consensus target price of C$6.25.

Baytex Energy Price Performance

Shares of TSE BTE opened at C$4.26 on Tuesday. The firm has a 50-day simple moving average of C$4.73 and a 200-day simple moving average of C$4.78. The stock has a market capitalization of C$3.43 billion, a price-to-earnings ratio of -6.17, a price-to-earnings-growth ratio of 0.12 and a beta of 2.65. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. Baytex Energy has a 52 week low of C$3.92 and a 52 week high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued 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 during 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, equities analysts predict that Baytex Energy will post 0.6550633 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, September 16th. Baytex Energy’s dividend payout ratio (DPR) is presently -13.04%.

Insiders Place Their Bets

In related news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.82% of the stock is currently owned by 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.