Brokerages Set Baytex Energy Corp. (TSE:BTE) Target Price at C$5.59

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$5.59.

Several equities analysts recently issued reports on BTE shares. Atb Cap Markets cut Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. ATB Capital decreased their price target on shares of Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. CIBC dropped their price objective on shares of Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. TD Securities decreased their target price on Baytex Energy from C$5.50 to C$5.00 in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lowered their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Tuesday, January 14th.

Baytex Energy Trading Up 5.1 %

Shares of TSE BTE opened at C$3.08 on Monday. The stock has a market capitalization of C$2.43 billion, a P/E ratio of -7.01, a PEG ratio of 0.12 and a beta of 2.61. The stock’s 50 day moving average price is C$3.51 and its two-hundred day moving average price is C$3.91. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. Baytex Energy has a 52-week low of C$2.74 and a 52-week high of C$5.55.

Baytex Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, March 14th. Baytex Energy’s dividend payout ratio is currently -20.48%.

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.