Baytex Energy (TSE:BTE) Price Target Raised to C$6.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target lifted by CIBC from C$6.00 to C$6.50 in a report issued on Monday, BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada cut their target price on Baytex Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Stifel Nicolaus boosted their target price on Baytex Energy from C$6.00 to C$6.25 and gave the stock a buy rating in a research report on Thursday, February 29th. TD Securities cut their target price on Baytex Energy from C$6.50 to C$6.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Raymond James cut their target price on Baytex Energy from C$6.75 to C$5.00 and set a market perform rating on the stock in a research report on Friday, January 19th. Finally, BMO Capital Markets set a C$6.00 target price on Baytex Energy and gave the stock a market perform rating in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baytex Energy has an average rating of Moderate Buy and a consensus price target of C$6.53.

Baytex Energy Trading Up 0.6 %

Shares of BTE stock opened at C$5.23 on Monday. The company has a debt-to-equity ratio of 63.80, a quick ratio of 0.77 and a current ratio of 0.79. The firm has a market capitalization of C$4.30 billion, a PE ratio of -15.85, a price-to-earnings-growth ratio of 0.12 and a beta of 2.78. The stock has a fifty day moving average of C$4.77 and a two-hundred day moving average of C$4.85. Baytex Energy has a 1 year low of C$3.83 and a 1 year high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Wednesday, February 28th. The company reported C$0.25 earnings per share for the quarter, beating the consensus estimate of C$0.13 by C$0.12. The business had revenue of C$1.07 billion during the quarter. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%. As a group, research analysts expect that Baytex Energy will post 0.7398601 EPS for the current year.

Baytex Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, March 14th. Baytex Energy’s payout ratio is currently -27.27%.

Insiders Place Their Bets

In other Baytex Energy news, Director Tiffany Thom Cepak sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. In other Baytex Energy news, Director Tiffany Thom Cepak sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. Also, Senior Officer Eric Thomas Greager bought 20,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of C$4.25 per share, for a total transaction of C$85,000.00. Insiders own 0.73% of the company’s stock.

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.