Brokerages Set Baytex Energy Corp. (TSE:BTE) PT at C$5.97

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been given a consensus rating of “Moderate Buy” by the eight analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$5.97.

Several equities research analysts have recently weighed in on BTE shares. BMO Capital Markets lowered their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Wednesday, December 4th. National Bankshares dropped their price objective on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Royal Bank of Canada cut their price objective on Baytex Energy from C$6.50 to C$5.50 in a report on Tuesday, September 17th. TD Securities lowered their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group cut their price target on shares of Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd.

Baytex Energy Stock Performance

TSE BTE opened at C$3.48 on Wednesday. Baytex Energy has a twelve month low of C$3.15 and a twelve month high of C$5.55. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The stock has a market cap of C$2.80 billion, a P/E ratio of -5.04, a PEG ratio of 0.12 and a beta of 2.61. The company’s 50-day simple moving average is C$3.88 and its 200 day simple moving average is C$4.37.

Baytex Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd will be given a $0.023 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a yield of 2.64%. Baytex Energy’s payout ratio is -13.04%.

Insiders Place Their Bets

In related news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of Baytex Energy stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of C$3.67 per share, for a total transaction of C$30,094.00. Company 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.