Baytex Energy Corp. (TSE:BTE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have received an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$7.00.

BTE has been the subject of several research analyst reports. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and upped their price target for the company from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. TD upped their price target on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada upped their price target on shares of Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. TD Securities upped their price target on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a research report on Thursday, March 5th. Finally, National Bank Financial increased their price objective on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday, May 8th.

Baytex Energy Stock Performance

BTE opened at C$5.91 on Wednesday. The firm has a market cap of C$4.28 billion, a PE ratio of -6.16, a P/E/G ratio of 0.12 and a beta of 0.34. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84. The business has a fifty day simple moving average of C$6.52 and a 200-day simple moving average of C$5.46. Baytex Energy has a fifty-two week low of C$2.43 and a fifty-two week high of C$7.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The firm had revenue of C$401.37 million for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. As a group, equities analysts predict that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd will be paid a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. Baytex Energy’s dividend payout ratio is currently -7.03%.

Insider Transactions at Baytex Energy

In other Baytex Energy news, insider Chad Lundberg acquired 11,000 shares of Baytex Energy stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average cost of C$6.15 per share, with a total value of C$67,650.00. Following the purchase, the insider owned 613,401 shares in the company, valued at approximately C$3,772,416.15. The trade was a 1.83% increase in their ownership of the stock. Also, insider James Robert Maclean acquired 10,000 shares of Baytex Energy stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of C$5.73 per share, with a total value of C$57,300.00. Following the completion of the purchase, the insider owned 185,322 shares in the company, valued at approximately C$1,061,895.06. This represents a 5.70% increase in their position. In the last 90 days, insiders bought 49,800 shares of company stock worth $293,188. 0.83% of the stock is currently owned by company insiders.

About Baytex Energy

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.