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

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

Other research analysts also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of Baytex Energy from C$6.25 to C$7.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. CIBC upped their price target on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a neutral rating in a report on Monday, April 22nd. BMO Capital Markets set a C$6.00 price target on shares of Baytex Energy and gave the stock a market perform rating in a report on Tuesday, April 9th. Royal Bank of Canada lowered their price target on shares of Baytex Energy from C$7.00 to C$6.50 and set an outperform rating for the company in a report on Monday, May 13th. Finally, TD Securities upped their price target on shares of Baytex Energy from C$5.50 to C$6.00 in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$6.35.

Baytex Energy Stock Up 1.7 %

Shares of BTE opened at C$4.83 on Friday. Baytex Energy has a one year low of C$3.96 and a one year high of C$6.37. The company has a market cap of C$3.97 billion, a P/E ratio of -10.98, a P/E/G ratio of 0.12 and a beta of 2.76. The company has a debt-to-equity ratio of 63.22, a current ratio of 0.67 and a quick ratio of 0.77. The firm has a 50 day simple moving average of C$4.79 and a two-hundred day simple moving average of C$4.70.

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

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 annualized dividend and a dividend yield of 1.90%. Baytex Energy’s dividend payout ratio is -20.45%.

Insider Buying and Selling

In other Baytex Energy news, Senior Officer Nicole Marie Frechette acquired 5,300 shares of Baytex Energy stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of C$4.75 per share, with a total value of C$25,175.00. In other news, Senior Officer Chadwick Kalmakoff purchased 10,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average price of C$4.61 per share, with a total value of C$46,100.00. Also, Senior Officer Nicole Marie Frechette purchased 5,300 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of C$4.75 per share, for a total transaction of C$25,175.00. Insiders have acquired a total of 47,350 shares of company stock valued at $193,603 over the last 90 days. 0.79% 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.