Baytex Energy (TSE:BTE) Price Target Cut to C$4.50 by Analysts at TD Securities

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective trimmed by TD Securities from C$4.75 to C$4.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on BTE. Raymond James cut their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, April 9th. CIBC lowered their target price on Baytex Energy from C$5.00 to C$4.25 in a report on Thursday, April 10th. BMO Capital Markets cut their price target on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Royal Bank of Canada lowered their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. Finally, Scotiabank upgraded shares of Baytex Energy to a “hold” rating in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$4.68.

Baytex Energy Stock Up 6.8 %

Shares of TSE BTE opened at C$2.21 on Tuesday. The company’s 50 day moving average price is C$2.63 and its 200-day moving average price is C$3.36. 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 has a 52-week low of C$1.91 and a 52-week high of C$5.25. The company has a market capitalization of C$1.74 billion, a P/E ratio of -5.03, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61.

Baytex Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.0225 per share. 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%.

About Baytex Energy

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.