Canaccord Genuity Group Cuts Baytex Energy (TSE:BTE) Price Target to C$6.00

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective reduced by Canaccord Genuity Group from C$6.50 to C$6.00 in a research note published on Tuesday morning, BayStreet.CA reports.

BTE has been the topic of a number of other research reports. TD Securities cut their target price on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Raymond James upgraded Baytex Energy to a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada dropped their target price on Baytex Energy from C$6.50 to C$5.50 in a research report on Tuesday, September 17th. Finally, National Bankshares dropped their target price on Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$6.11.

Baytex Energy Price Performance

Baytex Energy has a 12-month low of C$3.85 and a 12-month high of C$6.35. The company has a market capitalization of C$3.25 billion, a price-to-earnings ratio of -5.80, a P/E/G ratio of 0.12 and a beta of 2.61. The company’s 50 day simple moving average is C$4.41 and its two-hundred day simple moving average is C$4.73. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. The business had revenue of C$1.13 billion during the quarter, compared to the consensus estimate of C$1.04 billion. As a group, analysts anticipate that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Dividend Announcement

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

Insider Activity at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff purchased 12,000 shares of Baytex Energy stock in a transaction on Friday, September 6th. The shares were bought at an average price of C$4.18 per share, with a total value of C$50,160.00. 0.83% of the stock is currently owned by company insiders.

About Baytex Energy

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.