Baytex Energy (TSE:BTE) Given New C$3.50 Price Target at Raymond James

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target lowered by Raymond James from C$4.00 to C$3.50 in a report issued on Tuesday,BayStreet.CA reports. Raymond James currently has a market perform rating on the stock.

BTE has been the topic of several other reports. TD Securities cut their price objective on shares of Baytex Energy from C$4.75 to C$4.50 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada reduced their price target on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. CIBC lowered their price objective on Baytex Energy from C$5.00 to C$4.25 in a research report on Thursday, April 10th. Scotiabank upgraded Baytex Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets dropped their price objective on Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$4.68.

Baytex Energy Price Performance

Shares of BTE opened at C$2.21 on Tuesday. The firm’s 50-day simple moving average is C$2.63 and its two-hundred day simple moving average is C$3.36. Baytex Energy has a fifty-two week low of C$1.91 and a fifty-two week high of C$5.25. The stock has a market cap of C$1.74 billion, a PE ratio of -5.03, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Friday, March 14th. Baytex Energy’s dividend payout ratio is -20.48%.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.