Baytex Energy (TSE:BTE) Price Target Lowered to C$5.00 at Royal Bank of Canada

Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective reduced by Royal Bank of Canada from C$5.50 to C$5.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on BTE. Canaccord Genuity Group cut their price objective on shares of Baytex Energy from C$6.50 to C$6.00 in a research note on Tuesday, October 22nd. National Bankshares dropped their target price on Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. BMO Capital Markets reduced their price target on Baytex Energy from C$6.00 to C$5.50 in a research report on Wednesday, December 4th. ATB Capital lowered their price objective on Baytex Energy from C$5.50 to C$5.20 in a research report on Wednesday, December 4th. Finally, TD Securities cut their target price on shares of Baytex Energy from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$5.91.

Baytex Energy Stock Performance

Shares of TSE BTE opened at C$3.81 on Tuesday. Baytex Energy has a 1-year low of C$3.15 and a 1-year high of C$5.55. The company has a current ratio of 0.72, a quick ratio of 0.77 and a debt-to-equity ratio of 62.33. The stock’s 50-day moving average is C$3.80 and its 200 day moving average is C$4.29. The stock has a market cap of C$3.07 billion, a price-to-earnings ratio of -5.52, a P/E/G ratio of 0.12 and a beta of 2.61.

Baytex Energy Dividend Announcement

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

Insider Activity at Baytex Energy

In related news, Senior Officer Nicole Marie Frechette acquired 8,200 shares of the stock in a transaction on Monday, December 9th. The stock was acquired at an average cost of C$3.67 per share, for a total transaction 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.