Baytex Energy Corp. (TSE:BTE) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$7.05.

BTE has been the topic of several research reports. ATB Cormark Capital Markets increased their price target on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$5.25 to C$7.00 in a research note on Tuesday, April 14th. National Bank Financial lifted their target price on Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Baytex Energy from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. Finally, TD boosted their price objective on Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a research report on Monday, May 11th.

Baytex Energy Stock Performance

Shares of TSE BTE opened at C$6.39 on Thursday. Baytex Energy has a twelve month low of C$2.68 and a twelve month high of C$7.37. The company has a current ratio of 2.82, a quick ratio of 0.77 and a debt-to-equity ratio of 6.94. The stock has a fifty day simple moving average of C$6.09 and a 200-day simple moving average of C$5.80. The stock has a market capitalization of C$4.55 billion, a PE ratio of -6.95, a PEG ratio of 0.12 and a beta of 0.41.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its earnings results on Thursday, July 30th. The company reported C$0.24 earnings per share (EPS) for the quarter. Baytex Energy had a negative return on equity of 26.41% and a negative net margin of 131.38%.The firm had revenue of C$564.88 million for the quarter. On average, equities analysts forecast that Baytex Energy will post 0.3703367 earnings per share for the current year.

Baytex Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 15th. Baytex Energy’s dividend payout ratio (DPR) is -7.34%.

Insiders Place Their Bets

In related news, Director Stephen David Lile Reynish sold 77,600 shares of Baytex Energy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the sale, the director directly owned 15,400 shares in the company, valued at C$105,490. This trade represents a 83.44% decrease in their position. Insiders own 0.83% of the company’s stock.

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.