Baytex Energy Corp. (TSE:BTE) Receives C$6.11 Average Target Price from Analysts

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE has been given a consensus recommendation of "Moderate Buy" by the nine analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$6.11.

A number of research analysts have recently commented on the company. Raymond James upgraded Baytex Energy to a "hold" rating in a research note on Thursday, October 17th. TD Securities dropped their price target on Baytex Energy from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. Canaccord Genuity Group cut their target price on Baytex Energy from C$6.50 to C$6.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada lowered their target price on Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Finally, National Bankshares reduced their price objective on shares of Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th.

Insider Activity

In related news, Senior Officer Chadwick Kalmakoff acquired 12,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of C$4.18 per share, for a total transaction of C$50,160.00. Corporate insiders own 0.83% of the company's stock.

Baytex Energy Stock Performance

Shares of BTE traded up C$0.03 during mid-day trading on Tuesday, hitting C$4.30. 4,340,923 shares of the company's stock were exchanged, compared to its average volume of 4,736,006. The firm has a market cap of C$3.46 billion, a price-to-earnings ratio of -6.23, a price-to-earnings-growth ratio of 0.12 and a beta of 2.61. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33. The stock's 50-day simple moving average is C$4.30 and its 200-day simple moving average is C$4.67. Baytex Energy has a 52 week low of C$3.85 and a 52 week high of C$6.15.

Baytex Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.023 per share. This represents a $0.09 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, December 13th. Baytex Energy's payout ratio is -13.04%.

About Baytex Energy

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.