Baytex Energy (TSE:BTE) Given New C$5.50 Price Target at BMO Capital Markets

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price cut by BMO Capital Markets from C$6.00 to C$5.50 in a research report report published on Wednesday morning,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the stock. National Bankshares reduced their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Raymond James upgraded Baytex Energy to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada lowered 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 reduced their price target on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Finally, TD Securities lowered their price objective on Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Baytex Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$5.97.

Baytex Energy Stock Performance

TSE:BTE opened at C$3.77 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The firm’s fifty day simple moving average is C$4.13 and its 200 day simple moving average is C$4.52. The stock has a market cap of C$3.03 billion, a P/E ratio of -5.46, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. Baytex Energy has a twelve month low of C$3.66 and a twelve month 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. Stockholders of record on Thursday, January 2nd will be given a $0.023 dividend. This represents a $0.09 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, December 13th. Baytex Energy’s dividend payout ratio is presently -13.04%.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of C$4.18 per share, for a total transaction of C$50,160.00. 0.83% of the stock is owned by company 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.