Baytex Energy (TSE:BTE) Given New C$5.00 Price Target at TD Securities

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price target cut by TD Securities from C$5.50 to C$5.00 in a report released on Wednesday,BayStreet.CA reports.

Several other analysts have also recently commented on the company. ATB Capital reduced their price target on Baytex Energy from C$5.50 to C$5.20 in a report on Wednesday, December 4th. Royal Bank of Canada reduced their target price on Baytex Energy from C$5.50 to C$5.00 in a report on Tuesday, January 14th. BMO Capital Markets lowered their price target on shares of Baytex Energy from C$5.00 to C$4.00 in a research note on Wednesday. CIBC reduced their price objective on shares of Baytex Energy from C$6.00 to C$5.00 in a research note on Friday, January 17th. Finally, Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Baytex Energy currently has a consensus rating of “Hold” and an average target price of C$5.59.

Baytex Energy Trading Down 4.7 %

TSE BTE opened at C$2.85 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. The stock has a market capitalization of C$2.25 billion, a P/E ratio of -6.49, a P/E/G ratio of 0.12 and a beta of 2.61. Baytex Energy has a 52-week low of C$2.74 and a 52-week high of C$5.55. The firm has a 50-day moving average price of C$3.57 and a 200 day moving average price of C$3.97.

Baytex Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.023 per share. The ex-dividend date was Friday, December 13th. This represents a $0.09 annualized dividend and a yield of 3.23%. Baytex Energy’s dividend payout ratio (DPR) is currently -20.48%.

Insiders Place Their Bets

In related 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 bought at an average cost of C$3.67 per share, with a total value of C$30,094.00. 0.83% of the stock is currently owned by company 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.