Baytex Energy (TSE:BTE) Price Target Raised to C$5.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective increased by Scotiabank from C$5.25 to C$5.50 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also commented on BTE. Royal Bank Of Canada lowered Baytex Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 13th. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 13th. TD Securities cut shares of Baytex Energy from a “buy” rating to a “hold” rating and set a C$5.00 price target for the company. in a research report on Friday, January 16th. BMO Capital Markets upgraded shares of Baytex Energy from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Finally, Capital One Financial raised shares of Baytex Energy to a “hold” rating in a report on Monday, October 27th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Baytex Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$4.79.

Baytex Energy Stock Down 5.9%

Shares of TSE BTE opened at C$4.48 on Tuesday. 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 firm has a market capitalization of C$3.44 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.12 and a beta of 0.92. The stock has a 50 day moving average price of C$4.44 and a 200 day moving average price of C$3.58. Baytex Energy has a 52-week low of C$1.91 and a 52-week high of C$4.85.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings data on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. Baytex Energy had a negative return on equity of 8.96% and a negative net margin of 10.45%.The company had revenue of C$746.42 million for the quarter. Sell-side analysts expect that Baytex Energy will post 0.3703367 earnings per share for the current year.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, January 2nd were issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, December 15th. Baytex Energy’s payout ratio is currently 32.14%.

Insiders Place Their Bets

In other Baytex Energy news, insider Chad Lundberg acquired 11,500 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was purchased at an average price of C$4.36 per share, for a total transaction of C$50,140.00. Following the acquisition, the insider owned 532,801 shares in the company, valued at approximately C$2,323,012.36. This trade represents a 2.21% increase in their position. Also, Director Mark Bly acquired 20,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was acquired at an average cost of C$4.50 per share, with a total value of C$90,000.00. Following the transaction, the director directly owned 575,638 shares in the company, valued at approximately C$2,590,371. This represents a 3.60% increase in their ownership of the stock. Corporate insiders own 0.83% of the company’s stock.

About Baytex Energy

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.