Baytex Energy (TSE:BTE) Raised to Hold at Raymond James

Raymond James upgraded shares of Baytex Energy (TSE:BTE) (NYSE:BTE) to a hold rating in a research note released on Thursday morning, Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. TD Securities reduced their price target on shares of Baytex Energy from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Canaccord Genuity Group raised their target price on shares of Baytex Energy from C$6.25 to C$6.50 in a report on Friday, July 26th. National Bankshares lowered their price target on shares of Baytex Energy from C$8.00 to C$7.50 in a report on Friday, September 27th. Finally, Royal Bank of Canada reduced their price objective on Baytex Energy from C$6.50 to C$5.50 in a research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and six 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$6.17.

Baytex Energy Price Performance

TSE BTE opened at C$4.01 on Thursday. The company has a market cap of C$3.23 billion, a price-to-earnings ratio of -5.81, a PEG ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 62.33, a current ratio of 0.72 and a quick ratio of 0.77. The stock’s fifty day moving average price is C$4.43 and its 200 day moving average price is C$4.74. Baytex Energy has a 1 year low of C$3.85 and a 1 year high of C$6.37.

Baytex Energy (TSE:BTE) (NYSE:BTE) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$0.13 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.03). Baytex Energy had a negative net margin of 11.92% and a negative return on equity of 9.55%. The firm had revenue of C$1.13 billion during the quarter, compared to analyst estimates of C$1.04 billion.

Baytex Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Monday, September 16th. Baytex Energy’s payout ratio is currently -13.04%.

Insider Activity at Baytex Energy

In other Baytex Energy news, Senior Officer Chadwick Kalmakoff bought 12,000 shares of Baytex Energy stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of C$4.18 per share, with a total value of C$50,160.00. 0.82% of the stock is 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.