Baytex Energy Corp. (TSE:BTE) Given Average Recommendation of “Moderate Buy” by Brokerages

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$6.23.

BTE has been the subject of several research analyst reports. National Bankshares reduced their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a research report on Friday, September 27th. Canaccord Genuity Group raised their target price on Baytex Energy from C$6.25 to C$6.50 in a research report on Friday, July 26th. TD Securities reduced their price objective on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada lowered their target price on shares of Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of Baytex Energy stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.82% of the stock is currently owned by company insiders.

Baytex Energy Price Performance

Shares of TSE BTE opened at C$4.44 on Friday. The stock has a market capitalization of C$3.57 billion, a price-to-earnings ratio of -6.43, a PEG ratio of 0.12 and a beta of 2.61. Baytex Energy has a 12 month low of C$3.85 and a 12 month high of C$6.37. The firm’s 50 day simple moving average is C$4.50 and its 200-day simple moving average is C$4.76. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, July 25th. The company reported C$0.13 earnings per share for the quarter, missing the consensus estimate of C$0.16 by C($0.03). The business had revenue of C$1.13 billion for the quarter, compared to analyst estimates of C$1.04 billion. Baytex Energy had a negative return on equity of 9.55% and a negative net margin of 11.92%.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.023 per share. This represents a $0.09 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, September 16th. Baytex Energy’s dividend payout ratio (DPR) is presently -13.04%.

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.