Baytex Energy Corp. (TSE:BTE) Receives Average Rating of “Moderate Buy” from Analysts

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$6.11.

Several analysts have weighed in on the company. Royal Bank of Canada cut their target price on Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Canaccord Genuity Group cut their price objective on shares of Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. TD Securities decreased their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. National Bankshares dropped their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Finally, Raymond James upgraded shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th.

Baytex Energy Price Performance

Shares of TSE:BTE opened at C$3.98 on Friday. 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 firm’s 50 day moving average is C$4.15 and its two-hundred day moving average is C$4.54. The firm has a market capitalization of C$3.20 billion, a P/E ratio of -5.77, a PEG ratio of 0.12 and a beta of 2.61. Baytex Energy has a 52 week low of C$3.85 and a 52 week high of C$5.55.

Baytex Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.023 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.09 annualized dividend and a dividend yield of 2.31%. Baytex Energy’s dividend payout ratio is currently -13.04%.

Insider Activity

In other news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of C$4.18 per share, with a total value of C$50,160.00. Insiders own 0.83% 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.