Baytex Energy Corp. (TSE:BTE) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$7.05.

Separately, Raymond James Financial boosted their target price on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a “strong-buy” rating in a research note on Friday, July 31st.

Baytex Energy Stock Up 0.5%

Shares of Baytex Energy stock opened at C$6.47 on Friday. Baytex Energy has a 52-week low of C$3.07 and a 52-week high of C$7.37. The company has a 50 day moving average of C$6.41 and a 200 day moving average of C$6.24. The company has a quick ratio of 0.77, a current ratio of 2.82 and a debt-to-equity ratio of 6.94. The company has a market capitalization of C$4.52 billion, a P/E ratio of -7.03, a P/E/G ratio of 0.12 and a beta of 0.39.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.24 EPS for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. The company had revenue of C$564.88 million for the quarter. As a group, research analysts forecast that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy’s payout ratio is -7.34%.

About Baytex Energy

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.