Baytex Energy Corp. (TSE:BTE) Receives Average Rating of “Moderate Buy” from Analysts

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$4.79.

Several research analysts have weighed in on BTE shares. Royal Bank Of Canada downgraded Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 13th. BMO Capital Markets raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and raised their target price for the company from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Canaccord Genuity Group cut shares of Baytex Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$5.00 to C$4.75 in a research note on Tuesday, January 27th. Scotiabank raised their price objective on Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, TD Securities cut Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 target price on the stock. in a report on Friday, January 16th.

Baytex Energy Stock Performance

TSE BTE opened at C$5.24 on Monday. 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 twelve month low of C$1.91 and a twelve month high of C$5.27. The business has a 50-day moving average price of C$4.68 and a 200-day moving average price of C$3.97. The firm has a market cap of C$4.03 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.12 and a beta of 1.02.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, January 2nd were paid a $0.0225 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.7%. Baytex Energy’s payout ratio is presently 32.14%.

Insider Activity at Baytex Energy

In other news, insider Chad Lundberg bought 11,500 shares of the stock in a transaction dated Tuesday, December 30th. The stock was purchased at an average cost of C$4.36 per share, for a total transaction of C$50,140.00. Following the transaction, the insider owned 532,801 shares of the company’s stock, valued at C$2,323,012.36. The trade was a 2.21% increase in their ownership of the stock. Also, Director Mark Bly bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average cost of C$4.50 per share, with a total value of C$90,000.00. Following the completion of the acquisition, the director owned 575,638 shares of the company’s stock, valued at C$2,590,371. This represents a 3.60% increase in their position. 0.83% of the stock is owned by corporate insiders.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.