Royal Bank of Canada Cuts Baytex Energy (TSE:BTE) Price Target to C$5.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective decreased by Royal Bank of Canada from C$6.50 to C$5.50 in a research report released on Tuesday morning, BayStreet.CA reports.

Separately, Canaccord Genuity Group increased their target price on Baytex Energy from C$6.25 to C$6.50 in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and six 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 an average price target of C$6.25.

Baytex Energy Stock Performance

Shares of Baytex Energy stock opened at C$4.26 on Tuesday. The business has a fifty day simple moving average of C$4.71 and a 200-day simple moving average of C$4.77. The stock has a market cap of C$3.43 billion, a PE ratio of -6.17, a price-to-earnings-growth ratio of 0.12 and a beta of 2.65. 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 has a 12 month low of C$3.92 and a 12 month high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its 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). The firm had revenue of C$1.13 billion during the quarter, compared to analysts’ expectations of C$1.04 billion. Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. On average, sell-side analysts anticipate that Baytex Energy will post 0.6550633 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be given a $0.023 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.09 annualized dividend and a yield of 2.16%. Baytex Energy’s payout ratio is -13.04%.

Insiders Place Their Bets

In other news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of Baytex Energy stock in a transaction on 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. Insiders own 0.82% 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.