Brokerages Set Baytex Energy Corp. (TSE:BTE) Target Price at C$7.00

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$7.00.

Several research analysts recently commented on the stock. ATB Cormark Capital Markets lifted their target price on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and raised their price target for the company from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. National Bank Financial lifted their price objective on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Raymond James Financial boosted their price objective on Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada increased their target price on Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th.

Baytex Energy Trading Down 2.2%

Shares of BTE stock opened at C$5.75 on Friday. Baytex Energy has a 12 month low of C$2.50 and a 12 month high of C$7.37. The company has a market cap of C$4.10 billion, a PE ratio of -5.99, a price-to-earnings-growth ratio of 0.12 and a beta of 0.41. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84. The business’s 50 day moving average is C$6.41 and its two-hundred day moving average is C$5.62.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%.The firm had revenue of C$401.37 million for the quarter. Equities analysts predict that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.0225 per share. The ex-dividend date was Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.6%. Baytex Energy’s payout ratio is -7.03%.

Insider Activity at Baytex Energy

In other news, Director Stephen David Lile Reynish sold 77,600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total value of C$531,560.00. Following the completion of the sale, the director directly owned 15,400 shares of the company’s stock, valued at approximately C$105,490. This represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is currently owned by company insiders.

About Baytex Energy

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.