Canaccord Genuity Group Raises Baytex Energy (TSE:BTE) Price Target to C$6.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target boosted by Canaccord Genuity Group from C$6.25 to C$6.50 in a report released on Friday, BayStreet.CA reports.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets set a C$6.00 target price on shares of Baytex Energy and gave the company a market perform rating in a research note on Tuesday, April 9th. Stifel Nicolaus upped their target price on shares of Baytex Energy from C$6.25 to C$7.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. CIBC upped their target price on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a neutral rating in a research note on Monday, April 22nd. TD Securities increased their price objective on shares of Baytex Energy from C$5.50 to C$6.00 in a research note on Friday, May 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Baytex Energy from C$7.00 to C$6.50 and set an outperform rating on the stock in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Baytex Energy currently has an average rating of Moderate Buy and an average target price of C$6.35.

Baytex Energy Stock Performance

TSE:BTE opened at C$4.75 on Friday. The stock has a market cap of C$3.90 billion, a P/E ratio of -10.80, a PEG ratio of 0.12 and a beta of 2.76. The firm has a 50-day moving average of C$4.79 and a two-hundred day moving average of C$4.70. The company has a debt-to-equity ratio of 63.22, a current ratio of 0.67 and a quick ratio of 0.77. Baytex Energy has a 1-year low of C$3.96 and a 1-year high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.15). The company had revenue of C$984.19 million during the quarter. Baytex Energy had a negative net margin of 9.88% and a negative return on equity of 8.56%. On average, research analysts expect that Baytex Energy will post 0.4249084 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.023 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.09 annualized dividend and a dividend yield of 1.94%. Baytex Energy’s payout ratio is currently -20.45%.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff purchased 10,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of C$4.61 per share, for a total transaction of C$46,100.00. In related news, Senior Officer Nicole Marie Frechette acquired 5,300 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of C$4.75 per share, for a total transaction of C$25,175.00. Also, Senior Officer Chadwick Kalmakoff acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average price of C$4.61 per share, for a total transaction of C$46,100.00. Over the last 90 days, insiders have bought 47,350 shares of company stock worth $193,603. 0.79% of the stock is owned by company insiders.

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.