Baytex Energy (TSE:BTE) Price Target Raised to C$7.50 at Scotia

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target hoisted by Scotia from C$6.50 to C$7.50 in a research report released on Friday morning,BayStreet.CA reports. They currently have a sector outperform rating on the stock.

A number of other equities analysts have also issued reports on BTE. TD Securities upped their target price on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research report on Thursday, March 5th. National Bank Financial boosted their target price on Baytex Energy from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Friday. Royal Bank Of Canada boosted their target price on Baytex Energy from C$5.00 to C$6.50 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Finally, ATB Cormark Capital Markets boosted their target price on Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$7.00.

Baytex Energy Stock Down 0.3%

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

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share (EPS) for the quarter. The company had revenue of C$401.37 million for the quarter. Baytex Energy had a negative net margin of 40.77% and a negative return on equity of 16.25%. Equities analysts forecast that Baytex Energy will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were paid a dividend of $0.0225 per share. 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%.

Insiders Place Their Bets

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

Key Headlines Impacting Baytex Energy

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.