Baytex Energy (TSE:BTE) Price Target Lowered to C$5.00 at CIBC

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective trimmed by CIBC from C$6.00 to C$5.00 in a research report report published on Friday morning,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. Raymond James raised shares of Baytex Energy to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets reduced their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Wednesday, December 4th. Canaccord Genuity Group lowered their price target on Baytex Energy from C$6.50 to C$6.00 in a report on Tuesday, October 22nd. Royal Bank of Canada reduced their price objective on Baytex Energy from C$5.50 to C$5.00 in a research note on Tuesday. Finally, National Bankshares lowered their target price on Baytex Energy from C$8.00 to C$7.50 in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.74.

Baytex Energy Trading Up 0.3 %

TSE:BTE opened at C$3.82 on Friday. The company has a market capitalization of C$3.08 billion, a PE ratio of -5.54, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a 52-week low of C$3.15 and a 52-week high of C$5.55. The stock’s 50 day moving average price is C$3.79 and its 200 day moving average price is C$4.28. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 62.33.

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd were issued a $0.023 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 2.41%. Baytex Energy’s dividend payout ratio is presently -13.04%.

Insider Buying and Selling

In other news, Senior Officer Nicole Marie Frechette purchased 8,200 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was acquired at an average price of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is owned by insiders.

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.