Baytex Energy Corp. (TSE:BTE) Receives Consensus Rating of “Hold” from Analysts

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$7.00.

Several research firms have commented on BTE. National Bank Financial upped their price objective on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a report on Friday, May 8th. Canaccord Genuity Group raised shares of 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. TD increased their price target on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a report on Monday, May 11th. ATB Cormark Capital Markets increased their price target on shares of Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, Raymond James Financial increased their price target on shares of Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a report on Friday, May 8th.

Baytex Energy Price Performance

TSE BTE opened at C$7.10 on Friday. The company has a market cap of C$5.14 billion, a PE ratio of -7.40, a price-to-earnings-growth ratio of 0.12 and a beta of 0.58. Baytex Energy has a 52 week low of C$2.18 and a 52 week high of C$7.14. The company has a quick ratio of 0.77, a current ratio of 2.15 and a debt-to-equity ratio of 6.84. The firm’s 50-day simple moving average is C$6.05 and its two-hundred day simple moving average is C$5.01.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings data on Thursday, May 7th. The company reported C($0.09) EPS for the quarter. The business had revenue of C$401.37 million for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. Research analysts predict that Baytex Energy will post 0.3703367 earnings per share for the current year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s dividend payout ratio is presently -7.03%.

Insider Activity

In other news, insider Nicole Marie Frechette purchased 8,500 shares of the stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of C$5.84 per share, with a total value of C$49,640.00. Following the completion of the acquisition, the insider owned 73,026 shares in the company, valued at C$426,471.84. This represents a 13.17% increase in their position. Also, insider James Robert Maclean purchased 10,000 shares of the stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of C$5.73 per share, for a total transaction of C$57,300.00. Following the completion of the acquisition, the insider owned 185,322 shares of the company’s stock, valued at approximately C$1,061,895.06. This represents a 5.70% increase in their position. In the last three months, insiders bought 49,800 shares of company stock valued at $293,188. Corporate insiders own 0.83% of the company’s stock.

Baytex Energy Company Profile

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.