Canaccord Genuity Group Boosts Baytex Energy (TSE:BTE) Price Target to C$6.50

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective raised by Canaccord Genuity Group from C$6.25 to C$6.50 in a research report released on Friday morning, BayStreet.CA reports.

BTE has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on Baytex Energy from C$6.25 to C$7.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. TD Securities boosted their target price on Baytex Energy from C$5.50 to C$6.00 in a research report on Friday, May 10th. BMO Capital Markets set a C$6.00 target price on Baytex Energy and gave the stock a market perform rating in a research report on Tuesday, April 9th. CIBC boosted their target price on Baytex Energy from C$6.00 to C$6.50 and gave the stock a neutral rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada cut their target price on Baytex Energy from C$7.00 to C$6.50 and set an outperform rating on the stock in a research report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$6.35.

Baytex Energy Trading Up 1.7 %

Shares of Baytex Energy stock opened at C$4.83 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.67 and a debt-to-equity ratio of 63.22. The firm has a market cap of C$3.97 billion, a price-to-earnings ratio of -10.98, a price-to-earnings-growth ratio of 0.12 and a beta of 2.76. The business has a fifty day simple moving average of C$4.79 and a 200-day simple moving average of C$4.70. Baytex Energy has a fifty-two week low of C$3.96 and a fifty-two week high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.15). The firm had revenue of C$984.19 million during the quarter. Baytex Energy had a negative net margin of 9.88% and a negative return on equity of 8.56%. On average, equities analysts forecast that Baytex Energy will post 0.4249084 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.023 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.09 dividend on an annualized basis and a yield of 1.90%. Baytex Energy’s dividend payout ratio (DPR) is currently -20.45%.

Insider Buying and Selling at Baytex Energy

In other news, Director Mark Bly bought 15,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of C$3.42 per share, for a total transaction of C$51,300.00. In other news, Senior Officer Nicole Marie Frechette bought 5,300 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of C$4.75 per share, for a total transaction of C$25,175.00. Also, Director Mark Bly purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of C$3.42 per share, with a total value of C$51,300.00. Insiders have bought 47,350 shares of company stock worth $193,603 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Baytex Energy Company Profile

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.