Baytex Energy (TSE:BTE) Given New C$7.00 Price Target at Stifel Nicolaus

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective increased by Stifel Nicolaus from C$6.25 to C$7.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on BTE. TD Securities lowered their price target on Baytex Energy from C$6.50 to C$6.00 and set a buy rating on the stock in a research report on Thursday, February 29th. CIBC increased their target price on Baytex Energy from C$6.00 to C$6.50 and gave the stock a neutral rating in a report on Monday, April 22nd. Royal Bank of Canada decreased their target price on Baytex Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a report on Thursday, February 29th. ATB Capital decreased their target price on Baytex Energy from C$6.50 to C$6.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Finally, Raymond James decreased their target price on Baytex Energy from C$6.75 to C$5.00 and set a market perform rating on the stock in a report on Friday, January 19th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$6.53.

Baytex Energy Stock Performance

Shares of TSE:BTE opened at C$5.36 on Tuesday. The business’s fifty day moving average price is C$4.81 and its two-hundred day moving average price is C$4.85. Baytex Energy has a fifty-two week low of C$3.83 and a fifty-two week high of C$6.37. The stock has a market capitalization of C$4.40 billion, a price-to-earnings ratio of -16.24, a price-to-earnings-growth ratio of 0.12 and a beta of 2.78. The company has a debt-to-equity ratio of 63.80, a current ratio of 0.79 and a quick ratio of 0.77.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.13 by C$0.12. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%. The firm had revenue of C$1.07 billion for the quarter. As a group, analysts predict that Baytex Energy will post 0.7398601 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, March 14th. Baytex Energy’s payout ratio is -27.27%.

Insider Buying and Selling at Baytex Energy

In related news, Senior Officer Eric Thomas Greager bought 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of C$4.25 per share, with a total value of C$85,000.00. In other news, Director Tiffany Thom Cepak sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total transaction of C$142,000.00. Also, Senior Officer Eric Thomas Greager purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of C$4.25 per share, for a total transaction of C$85,000.00. Insiders own 0.73% of the company’s stock.

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.