Brokerages Set Baytex Energy Corp. (TSE:BTE) Target Price at C$5.84

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$5.84.

BTE has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price target on Baytex Energy from C$5.50 to C$5.00 in a report on Tuesday, January 14th. ATB Capital cut their target price on shares of Baytex Energy from C$5.50 to C$5.20 in a research note on Wednesday, December 4th. CIBC decreased their price target on shares of Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets decreased their target price on Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday, December 4th.

Insider Buying and Selling

In related news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the stock in a transaction on Monday, December 9th. The shares were purchased at an average cost of C$3.67 per share, for a total transaction of C$30,094.00. Company insiders own 0.83% of the company’s stock.

Baytex Energy Price Performance

TSE BTE opened at C$3.62 on Thursday. The stock has a 50-day simple moving average of C$3.61 and a 200 day simple moving average of C$4.08. Baytex Energy has a twelve month low of C$3.15 and a twelve month high of C$5.55. The stock has a market capitalization of C$2.86 billion, a PE ratio of -8.24, a P/E/G ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were paid a $0.023 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a yield of 2.54%. Baytex Energy’s 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.