Baytex Energy (TSE:BTE) Price Target Lowered to C$5.20 at ATB Capital

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target lowered by ATB Capital from C$5.50 to C$5.20 in a report released on Wednesday,BayStreet.CA reports.

A number of other brokerages also recently issued reports on BTE. National Bankshares cut their target price on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. BMO Capital Markets cut their price objective on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday. Raymond James upgraded shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada cut their price target on shares of Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their target price on Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Baytex Energy presently has an average rating of “Moderate Buy” and an average price target of C$5.97.

Baytex Energy Price Performance

TSE:BTE opened at C$3.77 on Wednesday. Baytex Energy has a one year low of C$3.66 and a one year high of C$5.55. The company has a debt-to-equity ratio of 62.33, a quick ratio of 0.77 and a current ratio of 0.72. The stock has a market cap of C$3.03 billion, a PE ratio of -5.46, a P/E/G ratio of 0.12 and a beta of 2.61. The stock has a 50 day moving average price of C$4.13 and a 200 day moving average price of C$4.52.

Baytex Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd will be paid a $0.023 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.44%. Baytex Energy’s payout ratio is presently -13.04%.

Insider Activity

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of C$4.18 per share, with a total value of C$50,160.00. Insiders own 0.83% of the company’s stock.

Baytex Energy Company Profile

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.