BMO Capital Markets Issues Pessimistic Forecast for Baytex Energy (TSE:BTE) Stock Price

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target cut by BMO Capital Markets from C$5.00 to C$4.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

BTE has been the subject of a number of other research reports. ATB Capital reduced their price target on Baytex Energy from C$5.50 to C$5.20 in a research report on Wednesday, December 4th. Atb Cap Markets lowered Baytex Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada decreased their target price on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. Finally, CIBC dropped their price target on shares of Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$5.59.

Baytex Energy Stock Down 4.7 %

Baytex Energy stock opened at C$2.85 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.77 and a debt-to-equity ratio of 57.38. Baytex Energy has a 1-year low of C$2.74 and a 1-year high of C$5.55. The firm’s fifty day simple moving average is C$3.57 and its 200-day simple moving average is C$3.97. The company has a market capitalization of C$2.25 billion, a P/E ratio of -6.49, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.023 per share. The ex-dividend date was Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.23%. Baytex Energy’s dividend payout ratio (DPR) is presently -20.48%.

Insider Activity

In related news, Senior Officer Nicole Marie Frechette bought 8,200 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of C$3.67 per share, for a total transaction of C$30,094.00. 0.83% of the stock is owned by company insiders.

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.