Baytex Energy Corp. (TSE:BTE) Given Average Rating of “Hold” by Brokerages

Shares of Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) have received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$7.00.

Several equities analysts recently commented on BTE shares. Raymond James Financial upped their price target on shares of Baytex Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Baytex Energy from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. TD upped their target price on Baytex Energy from C$6.00 to C$6.50 and gave the company a “hold” rating in a research note on Monday, May 11th. Canaccord Genuity Group upgraded Baytex Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Finally, Scotia raised their price target on Baytex Energy from C$6.50 to C$7.50 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th.

Baytex Energy Trading Up 3.7%

BTE stock opened at C$5.87 on Thursday. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84. Baytex Energy has a twelve month low of C$2.68 and a twelve month high of C$7.37. The stock has a market capitalization of C$4.18 billion, a price-to-earnings ratio of -6.11, a price-to-earnings-growth ratio of 0.12 and a beta of 0.41. The firm’s fifty day simple moving average is C$6.13 and its two-hundred day simple moving average is C$5.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its earnings results on Thursday, May 7th. The company reported C($0.09) earnings per share for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. The firm had revenue of C$401.37 million during the quarter. As a group, analysts anticipate that Baytex Energy will post 0.3703367 earnings per share for the current year.

Baytex Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were given a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Baytex Energy’s dividend payout ratio is -7.03%.

Insiders Place Their Bets

In other news, Director Stephen David Lile Reynish sold 77,600 shares of Baytex Energy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$6.85, for a total transaction of C$531,560.00. Following the completion of the sale, the director directly owned 15,400 shares in the company, valued at approximately C$105,490. This trade represents a 83.44% decrease in their ownership of the stock. 0.83% of the stock is currently owned by insiders.

Baytex Energy Company Profile

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.