Baytex Energy (TSE:BTE) Rating Increased to Hold at Scotiabank

Scotiabank upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other research firms also recently issued reports on BTE. Atb Cap Markets downgraded shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets cut their price objective on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Royal Bank of Canada dropped their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. TD Securities dropped their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. Finally, ATB Capital dropped their target price on shares of Baytex Energy from C$5.50 to C$5.20 in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Baytex Energy currently has an average rating of “Hold” and an average price target of C$5.59.

Baytex Energy Stock Performance

TSE BTE opened at C$3.14 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The company has a market capitalization of C$2.48 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a 12-month low of C$2.74 and a 12-month high of C$5.55. The firm has a 50-day moving average price of C$3.40 and a two-hundred day moving average price of C$3.83.

Baytex Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. Baytex Energy’s dividend payout ratio is -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.