Baytex Energy Corp. (TSE:BTE) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Baytex Energy has a consensus “Hold” rating from 11 analysts, with six holds and five buys. The average 12-month price target is C$7.00, while several firms recently raised their targets to between C$7.50 and C$8.50.
• Shares opened at C$5.87 and were reported up 3.7%, with a market capitalization of approximately C$4.18 billion. The stock has traded between C$2.68 and C$7.37 over the past year.
• Baytex reported quarterly revenue of C$401.37 million and a loss of C$0.09 per share, alongside negative margins and return on equity. The company paid a quarterly dividend of C$0.0225 per share, equivalent to a 1.5% annualized yield.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE has earned a consensus rating of "Hold" from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$7.00.

Several analysts have recently issued reports on the company. Canaccord Genuity Group raised Baytex Energy from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Scotia raised their target price on shares of Baytex Energy from C$6.50 to C$7.50 and gave the company a "sector outperform" rating in a report on Friday, May 8th. TD boosted their price target on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a "hold" rating in a research report on Monday, May 11th. Raymond James Financial upped their price target on shares of Baytex Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, National Bank Financial increased their price objective on shares of Baytex Energy from C$7.50 to C$8.50 and gave the company a "sector perform" rating in a research report on Friday, May 8th.

Baytex Energy Trading Up 3.7%

Shares of BTE stock opened at C$5.87 on Thursday. The company has a current ratio of 2.15, a quick ratio of 0.77 and a debt-to-equity ratio of 6.84. The stock has a market capitalization of C$4.18 billion, a price-to-earnings ratio of -6.11, a price-to-earnings-growth ratio of 0.12 and a beta of 0.41. Baytex Energy has a 12-month low of C$2.68 and a 12-month high of C$7.37. The stock's 50-day moving average price is C$6.13 and its 200-day moving average price is C$5.77.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last announced its quarterly earnings results on Thursday, May 7th. The company reported C($0.09) EPS for the quarter. The firm had revenue of C$401.37 million for the quarter. Baytex Energy had a negative net margin of 83.88% and a negative return on equity of 23.15%. Equities research analysts predict that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Baytex Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were given a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. Baytex Energy's dividend payout ratio is currently -7.03%.

Insider Activity at Baytex Energy

In related news, Director Stephen David Lile Reynish sold 77,600 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$6.85, for a total value of C$531,560.00. Following the completion of the transaction, the director owned 15,400 shares of the company's stock, valued at approximately C$105,490. This trade represents a 83.44% decrease in their position. Insiders own 0.83% of the company's stock.

Baytex Energy Company Profile

Baytex Energy Corp. is a Calgary -based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow.

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