Baytex Energy (TSE:BTE) Given New C$8.50 Price Target at ATB Cormark Capital Markets

Baytex Energy (TSE:BTE) (NYSE:BTE) had its target price upped by ATB Cormark Capital Markets from C$7.00 to C$8.50 in a report published on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other analysts have also recently commented on BTE. National Bank Financial raised their price objective on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research note on Friday. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$5.50 to C$7.00 in a research note on Monday, March 30th. Scotiabank raised their price objective on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Canaccord Genuity Group upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada raised their price objective on Baytex Energy from C$5.00 to C$6.50 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Baytex Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$7.00.

Baytex Energy Stock Down 0.3%

Baytex Energy stock opened at C$6.62 on Friday. The company has a debt-to-equity ratio of 4.94, a current ratio of 3.61 and a quick ratio of 0.77. Baytex Energy has a 1-year low of C$2.18 and a 1-year high of C$7.14. The company has a market cap of C$4.89 billion, a PE ratio of -8.49, a price-to-earnings-growth ratio of 0.12 and a beta of 0.58. The stock’s 50 day moving average price is C$5.86 and its 200 day moving average price is C$4.87.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share for the quarter. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%. The business had revenue of C$401.37 million during the quarter. On average, sell-side 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 was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s dividend payout ratio is presently -11.54%.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, insider Nicole Marie Frechette acquired 8,500 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were purchased at an average cost of C$5.84 per share, with a total value of C$49,640.00. Following the purchase, the insider owned 73,026 shares in the company, valued at approximately C$426,471.84. The trade was a 13.17% increase in their ownership of the stock. Also, insider Chadwick Kalmakoff acquired 15,000 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of C$5.73 per share, for a total transaction of C$85,950.00. Following the completion of the purchase, the insider owned 382,331 shares in the company, valued at C$2,190,756.63. The trade was a 4.08% increase in their position. Insiders bought a total of 49,800 shares of company stock valued at $293,188 in the last quarter. Insiders own 0.83% of the company’s stock.

Baytex Energy News Roundup

Here are the key news stories impacting Baytex Energy this week:

• Positive Sentiment: National Bank Financial raised its price target on Baytex Energy from C$7.50 to C$8.50 and kept a “sector perform” rating, implying meaningful upside from the current share price. BayStreet.CA analyst ratings
• Positive Sentiment: ATB Cormark also increased its target to C$8.50 from C$7.00, reinforcing bullish sentiment from analysts. Tickerreport.com
• Positive Sentiment: Raymond James lifted its target to C$8.00 from C$7.00 and maintained an “outperform” rating, signaling confidence in Baytex’s valuation and outlook. BayStreet.CA analyst ratings
• Positive Sentiment: Scotia raised its target to C$7.50 from C$6.50 and reiterated a “sector outperform” rating, adding to the cluster of positive analyst revisions. BayStreet.CA analyst ratings
• Neutral Sentiment: Baytex reported quarterly EPS of C($0.09) on revenue of C$401.37 million, with negative net margin and return on equity, highlighting that fundamentals remain challenged. Quarterly earnings details
• Negative Sentiment: Recent coverage also pointed to earnings pressure and forecasts for sharp revenue and EPS declines, which could limit further upside if operating performance does not improve. MSN earnings pressure article

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.