Baytex Energy Corp. (TSE:BTE) Given Average Rating of “Hold” by Brokerages

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has received an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$7.00.

A number of brokerages have recently issued reports on BTE. Scotia increased their target price on Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a research 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 report on Friday, May 8th. TD lifted their target price on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research report on Monday, May 11th. Raymond James Financial boosted their target price on shares of Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, ATB Cormark Capital Markets raised their price target on shares of Baytex Energy from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research note on Friday, May 8th.

Insider Activity at Baytex Energy

In other news, Director Stephen David Lile Reynish sold 77,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total value of C$531,560.00. Following the transaction, the director owned 15,400 shares in the company, valued at C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is owned by insiders.

Baytex Energy Stock Performance

Shares of Baytex Energy stock remained flat at C$5.75 on Friday. The company had a trading volume of 2,346,042 shares, compared to its average volume of 6,646,707. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84. Baytex Energy has a 1 year low of C$2.50 and a 1 year high of C$7.37. The firm’s 50-day moving average is C$6.38 and its two-hundred day moving average is C$5.62. The firm has a market cap of C$4.10 billion, a P/E ratio of -5.99, a price-to-earnings-growth ratio of 0.12 and a beta of 0.41.

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

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.0225 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.6%. Baytex Energy’s dividend payout ratio is presently -7.03%.

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.