Baytex Energy Corp. (TSE:BTE) Receives C$7.00 Consensus Price Target from Analysts

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$7.00.

BTE has been the topic of several recent analyst reports. TD Securities upped their price objective on shares of Baytex Energy from C$5.00 to C$5.50 and gave the stock a “hold” rating in a report on Thursday, March 5th. ATB Cormark Capital Markets upped their price objective 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. National Bank Financial increased their price objective on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Canaccord Genuity Group raised shares of Baytex Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$5.25 to C$7.00 in a research report on Tuesday, April 14th. Finally, 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 research report on Monday, May 11th.

Baytex Energy Stock Performance

Shares of BTE stock opened at C$6.47 on Wednesday. The firm’s 50 day moving average price is C$6.51 and its 200-day moving average price is C$5.43. The company has a debt-to-equity ratio of 6.84, a quick ratio of 0.77 and a current ratio of 2.15. Baytex Energy has a one year low of C$2.43 and a one year high of C$7.37. The firm has a market cap of C$4.68 billion, a P/E ratio of -6.74, a P/E/G ratio of 0.12 and a beta of 0.34.

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

Baytex Energy Dividend Announcement

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

Insider Buying and Selling

In other news, insider James Robert Maclean acquired 10,000 shares of the company’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of C$5.73 per share, with a total value of C$57,300.00. Following the transaction, the insider owned 185,322 shares in the company, valued at approximately C$1,061,895.06. This trade represents a 5.70% increase in their position. Also, Director Stephen David Lile Reynish sold 77,600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the completion of the sale, the director directly owned 15,400 shares in the company, valued at approximately C$105,490. This represents a 83.44% decrease in their ownership of the stock. In the last 90 days, insiders bought 49,800 shares of company stock worth $293,188. Corporate insiders own 0.83% of the company’s stock.

About Baytex Energy

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.