Baytex Energy Corp. (BTE.TO) – What Are Brokerages Saying About This Stock?

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have been given an average rating of “Buy” by the eleven analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$7.32.

Several brokerages have recently issued reports on BTE. National Bank Financial increased their price objective on Baytex Energy from C$8.50 to C$9.50 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. ATB Cormark Capital Markets raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Friday, November 6th. Raymond James Financial lifted their price target on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a research note on Friday, July 31st. Jefferies Financial Group initiated coverage on shares of Baytex Energy in a report on Tuesday, October 27th. They set a “buy” rating and a C$9.00 price target for the company. Finally, TD Securities raised shares of Baytex Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 6th.

Baytex Energy Trading Up 2.5%

Shares of BTE opened at C$6.07 on Friday. The company has a current ratio of 2.61, a quick ratio of 0.77 and a debt-to-equity ratio of 6.91. Baytex Energy has a 12-month low of C$4.04 and a 12-month high of C$7.87. The firm has a 50-day moving average price of C$6.84 and a 200 day moving average price of C$6.16. The firm has a market capitalization of C$4.10 billion, a P/E ratio of -8.20, a P/E/G ratio of 0.12 and a beta of 0.69.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, November 5th. The company reported C$0.23 earnings per share (EPS) for the quarter. Baytex Energy had a negative return on equity of 26.71% and a negative net margin of 262.69%. The company had revenue of C$511.39 million during the quarter. Sell-side analysts forecast that Baytex Energy will post 0.37 EPS for the current year.

Baytex Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st were issued a dividend of $0.0225 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.5%. Baytex Energy’s dividend payout ratio (DPR) is presently -9.12%.

Baytex Energy Company Profile

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.