Baytex Energy (TSE:BTE) Price Target Lowered to C$4.25 at CIBC

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective decreased by CIBC from C$5.00 to C$4.25 in a research report released on Thursday morning,BayStreet.CA reports.

Several other research analysts have also recently commented on the stock. BMO Capital Markets decreased their target price on shares of Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday, March 5th. Atb Cap Markets lowered shares of Baytex Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. TD Securities lowered their price objective on shares of Baytex Energy from C$5.50 to C$5.00 in a research report on Wednesday, March 5th. 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. Finally, Raymond James lowered their price target on Baytex Energy from C$5.00 to C$4.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baytex Energy has a consensus rating of “Hold” and a consensus target price of C$5.33.

Baytex Energy Trading Down 13.0 %

Shares of TSE BTE opened at C$2.21 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. Baytex Energy has a 12 month low of C$1.91 and a 12 month high of C$5.45. The company has a market cap of C$1.74 billion, a price-to-earnings ratio of -5.03, a P/E/G ratio of 0.12 and a beta of 2.61. The business has a fifty day simple moving average of C$3.11 and a 200-day simple moving average of C$3.64.

Baytex Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a $0.0225 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.09 dividend on an annualized basis and a yield of 4.07%. Baytex Energy’s dividend payout ratio (DPR) is currently -20.48%.

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.