Baytex Energy Corp Given Consensus Rating of “Buy” by Brokerages (NYSE:BTE)
Baytex Energy Corp (NYSE:BTE) has earned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, American Banking News reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $51.00.
Shares of Baytex Energy Corp (NYSE:BTE) traded up 0.26% during mid-day trading on Friday, hitting $43.00. 45,712 shares of the company’s stock traded hands. 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 $43.12 and a 200-day moving average of $41.93. The company has a market cap of $7.141 billion and a price-to-earnings ratio of 29.72.
Baytex Energy Corp (NYSE:BTE) last announced its earnings results on Thursday, July 31st. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.47 by $0.22.
The company also recently announced a monthly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.2197 per share. This represents a $2.64 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Wednesday, August 27th.
A number of analysts have recently weighed in on BTE shares. Analysts at TheStreet downgraded shares of Baytex Energy Corp to a “hold” rating in a research note on Thursday. Separately, analysts at CIBC set a $58.00 price target on shares of Baytex Energy Corp in a research note on Thursday, July 17th. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Baytex Energy Corp in a research note on Tuesday, July 8th.
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).
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