Baytex Energy (TSE:BTE) Raised to Hold at Scotiabank

Scotiabank upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on BTE. Royal Bank of Canada decreased their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday, January 14th. TD Securities decreased their target price on Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. CIBC cut their price objective on Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. Atb Cap Markets cut shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets lowered their price objective on Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Baytex Energy presently has a consensus rating of “Hold” and an average target price of C$5.59.

Baytex Energy Stock Down 0.3 %

TSE:BTE opened at C$3.14 on Wednesday. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The stock has a market capitalization of C$2.48 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.12 and a beta of 2.61. The company’s 50-day simple moving average is C$3.40 and its 200-day simple moving average is C$3.83. Baytex Energy has a fifty-two week low of C$2.74 and a fifty-two week high of C$5.55.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be given a $0.0225 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.87%. Baytex Energy’s dividend payout ratio (DPR) is presently -20.48%.

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.