Baytex Energy Corp. (TSE:BTE) Receives C$6.18 Average Price Target from Brokerages

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$6.18.

BTE has been the topic of a number of research reports. National Bank Financial increased their price objective on shares of Baytex Energy from C$5.00 to C$5.75 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Scotiabank lifted their target price on shares of Baytex Energy from C$5.25 to C$5.50 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating and lifted their target price for the company from C$5.50 to C$7.00 in a report on Monday, March 30th. Finally, Royal Bank Of Canada lifted their target price on shares of Baytex Energy from C$5.00 to C$6.50 and gave the company a “sector perform” rating in a report on Wednesday, April 8th.

Baytex Energy Stock Up 2.8%

TSE:BTE opened at C$6.29 on Tuesday. The firm has a market capitalization of C$4.64 billion, a P/E ratio of -8.06, a PEG ratio of 0.12 and a beta of 0.42. Baytex Energy has a 1-year low of C$2.00 and a 1-year high of C$6.35. The company’s fifty day moving average price is C$5.58 and its 200-day moving average price is C$4.66. The company has a debt-to-equity ratio of 4.94, a current ratio of 3.61 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.11) earnings per share for the quarter. Baytex Energy had a negative return on equity of 16.25% and a negative net margin of 40.77%. As a group, equities research analysts anticipate that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s payout ratio is -11.54%.

Insider Activity

In other news, insider Chad Lundberg bought 11,000 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was purchased at an average cost of C$6.15 per share, with a total value of C$67,650.00. Following the acquisition, the insider directly owned 613,401 shares in the company, valued at C$3,772,416.15. This trade represents a 1.83% increase in their ownership of the stock. Also, insider Nicole Marie Frechette bought 8,500 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of C$5.84 per share, with a total value 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 represents a 13.17% increase in their ownership of the stock. Insiders bought 49,800 shares of company stock valued at $293,188 in the last quarter. Company insiders own 0.83% of the company’s stock.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.