Baytex Energy (TSE:BTE) Lifted to “Hold” at Raymond James

Raymond James upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) to a hold rating in a research note released on Thursday, Zacks.com reports.

A number of other research firms also recently weighed in on BTE. Canaccord Genuity Group increased their price objective on Baytex Energy from C$6.25 to C$6.50 in a report on Friday, July 26th. TD Securities decreased their price objective on Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Royal Bank of Canada decreased their price objective on Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. Finally, National Bankshares cut their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.17.

Baytex Energy Trading Down 1.2 %

Shares of BTE stock opened at C$4.01 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33. The stock has a market cap of C$3.23 billion, a P/E ratio of -5.81, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The stock has a 50 day simple moving average of C$4.43 and a 200 day simple moving average of C$4.74. Baytex Energy has a 1 year low of C$3.85 and a 1 year high of C$6.37.

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 (EPS) for the quarter, missing the consensus estimate of C$0.16 by C($0.03). The company had revenue of C$1.13 billion during the quarter, compared to the consensus estimate of C$1.04 billion. Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, October 1st were paid a $0.023 dividend. 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 2.29%. Baytex Energy’s dividend payout ratio is -13.04%.

Insider Activity at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of Baytex Energy stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of C$4.18 per share, for a total transaction of C$50,160.00. 0.82% of the stock is owned by company insiders.

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.