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

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Six equities 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 objective among brokerages that have covered the stock in the last year is C$7.05.

Several research firms have recently issued reports on BTE. Scotia increased their price objective on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. Royal Bank Of Canada raised their target price on shares of 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. Raymond James Financial lifted their target price on shares of Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a report on Friday, July 31st. TD upped their price target on shares of 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. Finally, National Bank Financial increased their price target 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.

Baytex Energy Price Performance

Shares of TSE:BTE opened at C$6.58 on Monday. The stock has a 50-day simple moving average of C$6.00 and a 200-day simple moving average of C$6.01. The stock has a market capitalization of C$4.60 billion, a P/E ratio of -7.15, a PEG ratio of 0.12 and a beta of 0.37. Baytex Energy has a 1 year low of C$2.99 and a 1 year high of C$7.37. The company has a debt-to-equity ratio of 6.94, a quick ratio of 0.77 and a current ratio of 2.82.

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

Baytex Energy Announces Dividend

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

Insiders Place Their Bets

In other Baytex Energy news, Director Stephen David Lile Reynish sold 77,600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 owned 15,400 shares of the company’s stock, valued at C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is currently owned by corporate insiders.

Baytex Energy Company Profile

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.