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Baytex Energy Corp (NYSE:BTE) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $47.60 price objective on the stock. Zacks‘s price target would indicate a potential upside of 5.52% from the stock’s previous close.

Baytex Energy Corp (NYSE:BTE) traded down 0.51% on Tuesday, hitting $45.11. The stock had a trading volume of 165,185 shares. Baytex Energy Corp has a 52 week low of $35.30 and a 52 week high of $46.46. The stock has a 50-day moving average of $43.70 and a 200-day moving average of $40.2. The company has a market cap of $5.714 billion and a P/E ratio of 29.95.

Baytex Energy Corp (NYSE:BTE) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.24. On average, analysts predict that Baytex Energy Corp will post $2.44 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.2195 per share. This represents a $2.63 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Thursday, June 26th.

A number of other firms have also recently commented on BTE. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of Baytex Energy Corp in a research note on Thursday, June 12th. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Baytex Energy Corp in a research note on Monday, June 2nd. They now have a $47.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $48.92.

Baytex Energy Corp. (NYSE:BTE), through its subsidiaries, are engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of British Columbia, Alberta and Saskatchewan) and in the United States (in the states of North Dakota and Wyoming).

To view Zacks’ full report, visit Zacks’ official website.

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