Baytex Energy Corp. (TSE:BTE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Baytex Energy has a “Moderate Buy” consensus rating from 11 analysts: six hold, four buy, and one strong-buy rating. The average 12-month price target is C$7.05, while Raymond James recently raised its target to C$8.50.
• Baytex reported quarterly EPS of C$0.24 on revenue of C$564.88 million, but posted a negative net margin of 131.38% and negative return on equity of 26.41%.
• The company declared a quarterly dividend of $0.0225 per share, equivalent to $0.09 annually and a 1.3% yield, with payment scheduled for October 1.

Baytex Energy Corp. (TSE:BTE - Get Free Report) NYSE: BTE has earned an average rating of "Moderate Buy" from the eleven analysts that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$7.05.

Separately, Raymond James Financial boosted their price objective on shares of Baytex Energy from C$8.00 to C$8.50 and gave the stock a "strong-buy" rating in a research note on Friday, July 31st.

Baytex Energy Stock Performance

TSE BTE opened at C$6.79 on Friday. Baytex Energy has a 52-week low of C$3.07 and a 52-week high of C$7.37. The company has a 50-day simple moving average of C$6.34 and a 200 day simple moving average of C$6.20. The company has a debt-to-equity ratio of 6.94, a quick ratio of 0.77 and a current ratio of 2.82. The company has a market capitalization of C$4.75 billion, a PE ratio of -7.38, a price-to-earnings-growth ratio of 0.12 and a beta of 0.39.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.24 EPS for the quarter. The firm had revenue of C$564.88 million for the quarter. Baytex Energy had a negative net margin of 131.38% and a negative return on equity of 26.41%. On average, research analysts predict that Baytex Energy will post 0.3703367 EPS for the current year.

Baytex Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Baytex Energy's payout ratio is presently -7.34%.

About Baytex Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.