Baytex Energy Corp. (TSE:BTE) Receives Consensus Recommendation of “Hold” from Brokerages

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has received an average rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$7.00.

BTE has been the topic of several analyst reports. Royal Bank Of Canada increased their price objective on shares of Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. TD Securities increased their price objective on shares of Baytex Energy from C$5.00 to C$5.50 and gave the company a “hold” rating in a report on Thursday, March 5th. TD increased their price objective on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a report on Monday, May 11th. Raymond James Financial increased their price objective on shares of Baytex Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, ATB Cormark Capital Markets increased their target price on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th.

Baytex Energy Trading Down 4.5%

Shares of TSE BTE opened at C$6.55 on Wednesday. The company’s 50 day simple moving average is C$6.49 and its 200 day simple moving average is C$5.40. Baytex Energy has a fifty-two week low of C$2.43 and a fifty-two week high of C$7.37. The firm has a market capitalization of C$4.74 billion, a P/E ratio of -6.82, a P/E/G ratio of 0.12 and a beta of 0.34. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.15 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) earnings per share for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. The business had revenue of C$401.37 million during the quarter. On average, analysts predict that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd will be issued a $0.0225 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.09 annualized dividend and a yield of 1.4%. Baytex Energy’s dividend payout ratio (DPR) is -7.03%.

Insider Buying and Selling

In other news, insider Nicole Marie Frechette bought 8,500 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were bought at an average cost of C$5.84 per share, for a total transaction of C$49,640.00. Following the completion of the acquisition, 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. Also, insider Chad Lundberg bought 11,000 shares of the business’s stock in a transaction on Monday, March 30th. The stock was purchased at an average price of C$6.15 per share, for a total transaction of C$67,650.00. Following the completion of the acquisition, the insider owned 613,401 shares of the company’s stock, valued at approximately C$3,772,416.15. This trade represents a 1.83% increase in their position. In the last quarter, insiders acquired 49,800 shares of company stock valued at $293,188. 0.83% of the stock is owned by company 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.