Brokerages Set Baytex Energy Corp. (TSE:BTE) Target Price at C$5.59

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$5.59.

BTE has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on Baytex Energy from C$5.50 to C$5.00 in a research report on Tuesday, January 14th. CIBC decreased their price objective on shares of Baytex Energy from C$6.00 to C$5.00 in a research report on Friday, January 17th. TD Securities dropped their target price on shares of Baytex Energy from C$5.50 to C$5.00 in a report on Wednesday, March 5th. Scotiabank upgraded Baytex Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets cut their target price on Baytex Energy from C$5.00 to C$4.00 in a research report on Wednesday, March 5th.

Baytex Energy Stock Down 10.7 %

BTE stock opened at C$2.08 on Friday. Baytex Energy has a fifty-two week low of C$2.06 and a fifty-two week high of C$5.45. The company has a market cap of C$1.64 billion, a price-to-earnings ratio of -4.73, a P/E/G ratio of 0.12 and a beta of 2.61. The company has a debt-to-equity ratio of 57.38, a quick ratio of 0.77 and a current ratio of 0.69. The business’s 50-day moving average is C$3.17 and its two-hundred day moving average is C$3.66.

Baytex Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Friday, March 14th. Baytex Energy’s dividend payout ratio is presently -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.