Baytex Energy (TSE:BTE) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) to a hold rating in a report published on Thursday morning, Zacks.com reports.

A number of other research firms have also weighed in on BTE. National Bankshares decreased their target price on shares of Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Canaccord Genuity Group lifted their price objective on Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. Royal Bank of Canada dropped their target price on Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. Finally, TD Securities cut their target price on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.17.

Baytex Energy Stock Down 1.2 %

TSE BTE opened at C$4.01 on Thursday. The business has a fifty day moving average price of C$4.43 and a 200 day moving average price of C$4.74. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. The company has a market cap of C$3.23 billion, a P/E ratio of -5.81, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a one year low of C$3.85 and a one year high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Thursday, July 25th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). The business had revenue of C$1.13 billion during the quarter, compared to analyst estimates of C$1.04 billion. Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.023 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Monday, September 16th. Baytex Energy’s dividend payout ratio is presently -13.04%.

Insider Buying and Selling

In related news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of C$4.18 per share, with a total value of C$50,160.00. Corporate insiders own 0.82% of the company’s stock.

About Baytex Energy

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.