Baytex Energy Corp. (TSE:BTE) Stock Has Average Target Price of C$7.32

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$7.32.

Several research firms recently commented on BTE. Raymond James Financial raised their price target on shares of Baytex Energy from C$8.00 to C$8.50 and gave the company a “strong-buy” rating in a report on Friday, July 31st. National Bank Financial lifted their price target on Baytex Energy from C$8.50 to C$9.50 and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Finally, Jefferies Financial Group began coverage on shares of Baytex Energy in a research note on Tuesday, October 27th. They set a “buy” rating and a C$9.00 price objective for the company.

Baytex Energy Stock Performance

TSE BTE opened at C$5.92 on Friday. The stock has a market cap of C$4.14 billion, a P/E ratio of -6.43, a PEG ratio of 0.12 and a beta of 0.69. Baytex Energy has a twelve month low of C$3.34 and a twelve month high of C$7.87. The company’s 50-day simple moving average is C$6.89 and its 200 day simple moving average is C$6.14. The company has a quick ratio of 0.77, a current ratio of 2.82 and a debt-to-equity ratio of 6.94.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings results on Thursday, November 5th. The company reported C$0.23 earnings per share for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. The company had revenue of C$511.39 million for the quarter. As a group, research analysts forecast that Baytex Energy will post 0.37 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Baytex Energy’s payout ratio is currently -7.34%.

Baytex Energy Company Profile

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.