Baytex Energy (TSE:BTE) Given New C$5.50 Price Target at Scotiabank

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target boosted by Scotiabank from C$5.25 to C$5.50 in a research note released on Tuesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada lowered Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 13th. Raymond James Financial upgraded shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 13th. Capital One Financial raised shares of Baytex Energy to a “hold” rating in a research note on Monday, October 27th. TD Securities lowered Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 target price on the stock. in a research report on Friday, January 16th. Finally, BMO Capital Markets upgraded Baytex Energy from a “hold” rating to an “outperform” rating and lifted their target price for the company from C$3.00 to C$6.00 in a report on Thursday, November 13th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$4.79.

Baytex Energy Stock Up 0.4%

Shares of TSE:BTE opened at C$4.66 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. Baytex Energy has a 52-week low of C$1.91 and a 52-week high of C$4.81. The stock’s fifty day simple moving average is C$4.43 and its 200-day simple moving average is C$3.56. The company has a market capitalization of C$3.58 billion, a P/E ratio of 16.64, a P/E/G ratio of 0.12 and a beta of 0.92.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its earnings results on Thursday, October 30th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$746.42 million for the quarter. Baytex Energy had a negative net margin of 10.45% and a negative return on equity of 8.96%. As a group, equities research analysts forecast that Baytex Energy will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, January 2nd were paid a dividend of $0.0225 per share. The ex-dividend date was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. Baytex Energy’s dividend payout ratio (DPR) is currently 32.14%.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, Director Mark Bly purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were acquired at an average price of C$4.50 per share, for a total transaction of C$90,000.00. Following the completion of the purchase, the director owned 575,638 shares in the company, valued at C$2,590,371. The trade was a 3.60% increase in their position. Also, insider Chad Lundberg acquired 11,500 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were acquired at an average price of C$4.36 per share, for a total transaction of C$50,140.00. Following the completion of the acquisition, the insider directly owned 532,801 shares in the company, valued at C$2,323,012.36. The trade was a 2.21% increase in their ownership of the stock. 0.83% of the stock is currently owned by corporate insiders.

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.